Traders will be looking at quarterly results from 12 Dow members and 170 S&P 500 companies this week, including Alphabet, Microsoft, GE and Comcast.
Meta Platforms and Alphabet pulled back last week, falling $13.90, or 7.6%, to $169.27 and $6.44, or 5.6%, to $107.90, respectively. Meanwhile, American Express shares rose $2.83, or 1.9%, to $153.01 after the company reported a 31% rise in revenue. Among other individual stocks, Twitter shares erased earlier declines and rose 32 cents, or 0.8%, to $39.84 after the company posted a loss and noted that revenue was hurt by uncertainty related to Elon Musk's acquisition.
Investors continue to maintain a close eye on Europe, which has been beset by concerns about the cost of living and an energy crisis that couldOn Friday, fresh business surveys suggested the eurozone economy contracted in July. Excluding pandemic lockdown months, this would mark the first contraction signaled by purchasing managers' indexes since 2013. Still, the pan-continental Stoxx Europe 600 gained 0.3%.
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