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Fed decision, Big Tech earnings, economic data: What to watch this week in markets

Yahoo Finance’s Alexandra Semenova joins the Live show to discuss upcoming events and data that could move markets this week.

Video Transcript

[MUSIC PLAYING]

- For more on what's happening this week, let's get down to Yahoo Finance's Alexandra Semenova over at the New York Stock Exchange. Alexandra.

ALEXANDRA SEMENOVA: Good morning, guys. Happy Monday. Traders here at the New York Stock Exchange are getting ready for what's expected to be the busiest week of the year on Wall Street, with big tech earnings on deck, a flurry of economic reports set for release, and, of course, a key decision out of the Federal Reserve.

Some of the most heavily-weighted components of the S&P 500 are set to report second-quarter earnings through Friday. We will hear from names including Microsoft, Apple, Amazon, and other market heavyweights. And, of course, investors won't just be looking at the numbers they're putting out, but also what they're saying about their business prospects, particularly as many of these tech giants announced plans to slow hiring.

Investors will also get fresh economic data on new home sales PCE inflation, consumer confidence, and, of course, a preliminary read on second-quarter GDP. That is gonna be the highlight of the economic calendar this week, particularly as some strategists speculate that the economy is headed into a recession. But even with all of these earnings and economic releases on deck, the key event of the week will be, of course, the Federal Reserve policy setting meeting. Officials are expected to raise interest rates another 75 basis points on Wednesday, and, of course, we'll get remarks from Fed Chair Jerome Powell. Guys.

- All right, a lot to keep tabs on there. Thanks so much for bringing that our way, Alexandra. We'll check back in a little bit later on today.