Big Tech earnings and Fed decision test Wall Street rally

Wall Street faces a pivotal week as Big Tech earnings, the Federal Reserve's rate decision, and midterm election uncertainty test the US stock rally and AI-driven gains. Technology stocks fell last week after disappointing results from Meta and Lam Research, raising concerns about AI spending. Alphabet, Microsoft, and Amazon report next week, with investors seeking proof that heavy AI investments generate profits. The Fed's Wednesday decision follows September's rate hike. The Nasdaq ended Friday lower after its biggest drop since June. S&P 500 earnings are expected to rise 32% year-over-year, with a third of companies reporting. Markets see under 10% odds of an October hike but 80% for December, with Fed Chair Kevin Warsh's comments closely watched.