Five major technology giants will release financial reports this week, which may affect the performance of the Nasdaq index

According to Blockworks, five major tech giants will release their earnings reports this week: Alphabet (Tuesday), Microsoft (Wednesday), Meta (Wednesday), Apple (Thursday) and Amazon (Thursday).

A total of 169 S&P 500 companies released quarterly earnings this week, including Ford, Visa, Uber, Exxon and Mastercard. Of the companies that have released earnings, 75% exceeded analysts' earnings per share expectations and 59% exceeded revenue expectations. Nicholas Colas, co-founder of DataTrek Research, said that although the third quarter earnings performance was slightly better than the recent period, it was still below the long-term average. However, the current earnings are sufficient to support the current level of the S&P 500 and indicate further improvement in the fourth quarter and 2025.