Dow Jones faces Fed meeting and Big Tech earnings this week

The Dow Jones fell 1.23% on Friday to 52,215.16 points, driven by a surge in oil prices amid Middle East tensions, though it still posted a third consecutive weekly gain. The S&P 500 and Nasdaq declined 0.52% and 0.21%, respectively. The Brent crude rose 3.1% to $116.72 per barrel, its highest since June 2022, following Houthi attacks on Saudi Arabia, reigniting inflation fears. American Express dropped 3.68% after announcing a 5% workforce reduction, while defensive stocks like Coca-Cola and Procter & Gamble also fell. Investors now focus on the Federal Reserve's policy meeting Tuesday and Wednesday, plus earnings from Microsoft, Amazon, and Alphabet, with their AI investment plans under scrutiny. Futures pointed to a positive opening Monday.