Less money... still problems. Microsoft, Google, Meta, and Apple are on deck to report this week. With recent layoffs and hiring freezes top of mind, investors expect second-quarter earnings to be tough for some — but not all — of tech’s major players. Analysts predict rougher #'s from Google and Meta as recession fears shrink advertising budgets. Meanwhile, Apple seems to be weathering the economic storm, expecting to report double-digit growth despite supply snags. Investors are optimistic about Microsoft's booming cloud biz.
Power to the Powell… To tame prices, the Fed hiked interest rates by an unexpectedly high 0.75 percentage point last month — the biggest jump since the ’90s. On Wednesday, America’s central bank is expected to dish out another three-quarter-point hike. Some analysts say it should be more aggressive and raise rates by a full point. Last week, Europe’s central bank hiked rates for the first time in 11 years (’flation’s even worse there). But moving too fast could trigger (or deepen) a recession by slowing spending, investment, and hiring.