Last week, earnings reports from major tech companies like Google, Microsoft, Facebook (now known as Meta) drove the NASDAQ higher, offering great shorting opportunities. Amazon's earnings report on Thursday played a crucial role in stabilizing the market after the tech earnings, indicating the importance of Amazon's performance.

This week, over 1,000 companies will report earnings. Notably, Apple's Thursday report will be closely watched.

In the housing sector, the S&P CoreLogic Case-Shiller Composite 20 Home Price Index and the HPI month-over-month numbers will be released, with a slight price increase expected. Construction spending, indicating economic expansion, will be announced.

Job data includes the ADP non-farm employment change and JOLTS job openings. Unemployment claims and the unemployment rate, which is expected to remain at 3.8%, will also be reported.

The US Federal Reserve's FOMC meeting is scheduled for Wednesday, with a likely decision to maintain the rate at 5.5%. The press conference following the meeting may provide more insights.

Japan and the Bank of England are also set to make rate announcements. Watch the US dollar, Japanese Yen, and British Pound for potential market impact.

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