US Stock Investors Brace for Tech Earnings and Fed Meeting as AI Rally Wobbles

US stock investors face a pivotal week as major tech earnings and a Federal Reserve meeting test a shaky AI-driven market rally, following disappointing results from Meta and Lam Research that sparked the Nasdaq's biggest daily drop since June. Alphabet, Microsoft, and Amazon headline a packed earnings week covering about one-third of S&P 500 companies, with focus on capital spending guidance for AI infrastructure. The Fed's Wednesday policy meeting, with a less-than-10% chance of a rate hike, adds to market uncertainty. Investors also watch the November 3 midterm elections, with bets on Democratic gains. S&P 500 earnings are on pace to climb over 32% year-over-year, but concerns about AI spending sustainability and potential December rate hikes could fuel volatility.