Alphabet, Amazon, AMD Lead Earnings Wave; Jobs Data On Deck

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Wall Street’s main averages were lower on Friday as investors continued to assess the latest company earnings, and technology stocks continued to decline. Investors turned their focus on U.S. President Donald Trump’s selection of Kevin Warsh as the Federal Reserve chair. “I have a tough time seeing Kevin Warsh being able to persuade his colleagues to a dovish position, a position that elevates employment risks over inflation and one he has never been able to make himself, even when the times demanded,” said Neil Dutta, head of economic research at Renaissance Macro.

While major pharmaceutical and tech companies report results next week, investors must also look out for key economic data releases in the coming week. S&P Global Manufacturing PMI, ISM Manufacturing Prices and ISM Manufacturing PMI for January will be released on Monday. JOLTS Job Openings data for December is set to be released on Tuesday. On Wednesday, ADP Nonfarm Employment Change, S&P Global Services and Composite PMI for January will be released. Initial Jobless Claims data is due on Thursday, while Nonfarm Payrolls and Unemployment Rate for January are scheduled to be released on Friday.

The week ending February 6 will see major S&P 500 companies, including Alphabet (GOOGL) (GOOG), Amazon (AMZN), AMD (AMD), Merck (MRK), and Pfizer (PFE), releasing their quarterly financial results.

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Earnings spotlight: Monday: Palantir (PLTR), Walt Disney (DIS). See the full earnings calendar.

Earnings spotlight: Tuesday: AMD, Merck, PepsiCo (PEP), Amgen (AMGN), Pfizer. See the full earnings calendar.

Earnings spotlight: Wednesday: Alphabet, Eli Lilly (