"I would expect the potential for more volatility," said James Ragan, director of wealth management research at D.A. Meanwhile, shares of Facebook fell 5% on Friday after Snap Inc, the owner of photo messaging app Snapchat, said privacy changes implemented by Apple on iOS devices hurt its ability to target and measure its digital advertising. Intel and IBM fell sharply after their reports disappointed this week. There have already been some signs that tech companies may have a high bar to clear.
Also in focus will be any forecasts regarding supply bottlenecks, such as the chip shortage that has affected a broad swath of global industries, as well as their views on how sustainable the recent surge in consumer prices will be. While investors expect most of the big technology firms to show robust profits, many will also be listening for indications of whether they will be able to sustain that growth. In September, the index posted its biggest monthly percentage drop since the pandemic began in March 2020. Strong earnings reports have helped lift the S&P 500 to fresh record highs, with the benchmark index rising 5.5% so far in October.
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