So, we have Alphabet (Thursday, 2330 MT), Amazon (Friday, 0030 PT), and Facebook (Friday, 0100 MT) reporting at the end of this week. This will surely have an impact on the stock market. Remember that the recent advance of the S&P was largely based on the tech stocks rally, and mostly those giants. Therefore, if the market is pleased with the Q2 results, we are likely to see another rally – at least, for those stocks. If not – well, the stock market is already cooling down after the rally in the middle of July.
In general, the results of the second quarter of 2020 are supposed to be relatively weak. They will reflect the performance that took place in March, April, and May – the months that suffered the most from the virus. So the question will be how correct the market will in predicting the weakness of these results. However, this weakness is expected to be exactly relative as some indicators for some companies may as well grow: in the end, Google, Amazon, and Facebook have been significantly outperforming the S&P.