It's a major week for industrial companies and big oil, with tech earnings on deck from Alphabet, Microsoft, and Meta. Wall Street is anticipating earnings results from about 150 S&P 500 companies this week, roughly 30% of the broader index. Traders will be listening to comments by Federal Reserve Chair Jerome Powell to gauge the central bank's stance on what comes next as it navigates a soft landing for the economy. The Fed is widely expected to raise interest rates by a quarter percentage point at its meeting on Wednesday. Some market participants, however, expect this week's earnings and the Federal Reserve's final policy meeting until September could test the recent rally. As long as there is no evidence of recession, people are likely to continue chasing stocks, Steve Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's Squawk Box. "So far, there is no evidence of a recession," he added. For the week, the S&P 500 gained 0.7%, while the Nasdaq Composite fell 0.6%. The blue-chip Dow eked out a 2.51-point gain on Friday, marking its longest rally since August 2017. Stocks continued to grind higher even after a 10-day advance for the Dow Jones Industrial Average.
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