Hope conditions improve when the earning coming out.
Wall Street is bracing for a busy earnings week, with quarterly reports due from Apple Inc. Facebook parent Meta Platforms Inc. Google parent Alphabet Inc. Amazon.com Inc. and Microsoft Corp. among others. Investors will also keep an eye on Twitter Inc. which reports earnings Thursday and on Sunday was reported to be re-evaluating Elon Musk’s takeover bid.
On Friday, the Dow shed about 981 points, or 2.8%, marking its worst daily percentage drop since Oct. 28, 2020, according to Dow Jones Market data. The S&P 500 index slid 2.8% and the Nasdaq Composite Index tumbled 2.6%.
For the week, the Dow was down 1.9%, the S&P 500 fell 2.8% and the Nasdaq dropped 3.8%, according to FactSet.
Fed Chairman Jerome Powell added to the worries of jittery investors Thursday by signaling support for a larger, 50-basis-point rate hike at the Fed’s May meeting.
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