Big tech earnings in focus in Wall Street this week

Wall Street is set for a busy week of corporate earnings, central-bank decisions and month-end trading, with geopolitical headlines already adding volatility. The focus is on Big Tech after Alphabet’s setback last week, as four of the “Magnificent Seven” are scheduled to report: Microsoft, Meta and Arm Holdings, plus Qualcomm on July 29; followed by Amazon, Apple, Mastercard and Shell on July 30; and ExxonMobil and Chevron on July 31. Nvidia is not due until late August. The market’s key question since last week’s slide in the Nasdaq is whether AI-driven revenue can justify the ongoing surge in capex and the latest profit metrics, especially after Google’s first ever negative free cash flow since going public.