The Week Ahead: Fed, GDP and Big Tech Earnings Set the Tone for U.S. Stocks

Weekly S&P 500 Index (SPX)

S&P 500: 7,411.98 (-0.61%), support at 6,968.90, the 52-week SMA at 6,906.22, 6,815.03, 6,227.97, 5,899.24, and 4,835.04, resistance at 7,429.38 and 7,620.90.

All major indices remain above rising 52-week SMAs, confirming an intact long-term uptrend.

Outlook

The week’s main risks are the Fed decision, Core PCE inflation, GDP, labor-cost data, and earnings from major technology and consumer companies. AI spending and monetization will remain important as Microsoft, Meta Platforms, Apple, and Amazon report.

The technical trend remains constructive, but all three indices closed lower last week and the Nasdaq posted the largest decline. The direct market forecast is for catalyst-driven trading with support levels likely to be tested if the Fed, inflation data, or earnings disappoint. A stronger tone requires the indices to hold support and begin moving back toward their listed resistance levels.

More Information in our Economic Calendar.