In the past week, the focus was primarily on the earnings calendar, with notable attention on Tesla and Netflix. Netflix posted strong earnings and saw a surge in its stock, but the impact was overshadowed by Tesla's significant earnings miss, leading to a substantial selloff on Thursday, which continued into Friday, exerting downward pressure on the markets.

Looking ahead to the coming trading week, a whopping 974 companies are set to report their earnings. Notable companies reporting include Microsoft, Google (Alphabet), Visa, Coca-Cola, HSBC, Texas Instruments, General Electric, Facebook (now Meta), Thermo Fisher, IBM, Boeing, Chicago Mercantile Exchange, Amazon, MasterCard, Merck, Shell, Comcast, Intel, Caterpillar, Exxon Mobil, Chevron, and ABV. This week is particularly significant for tech giants, with Microsoft, Google, Facebook (Meta), and Amazon all reporting earnings within a three-day window.

In addition to earnings reports, there is a substantial amount of macroeconomic data being released, including services and manufacturing reports from various countries. Central banks, such as the Bank of Canada and the European Central Bank, are also set to make announcements, potentially impacting the Canadian dollar and Euro. Lastly, the core PCE price index and the advanced GDP data for the United States are expected to provide insights into economic growth.

All of these events have the potential to significantly influence financial markets, particularly in the tech sector, making it a pivotal week for traders and investors.

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