Investors are closely monitoring Big Tech earnings this week to gain insight into the direction of the volatile stock market. Microsoft and Google parent Alphabet have already reported strong third-quarter earnings, but Amazon, Meta, Nvidia, and Apple are yet to report. These tech giants have a significant impact on investors' portfolios and their earnings are seen as indicators of market trends. The recent earnings of Alphabet and Microsoft were positive, with Alphabet reporting increased sales and profits, while Microsoft exceeded expectations with revenue and profits growth. However, Alphabet's stock fell due to underperformance in its cloud business. Excluding Big Tech, the average earnings for S&P 500 companies would decline this quarter, highlighting the importance of tech companies to overall market performance. The upcoming earnings of Big Tech companies will be crucial in determining market trends. Additionally, the United States and Gulf nations are collaborating to target a 'secret' Hamas investment portfolio worth up to $1 billion, and Apple has announced its upcoming October event where new iMacs are expected to be unveiled.
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