Tech and fast food earnings, Fed meeting: What to watch

Yahoo Finance Live's Seana Smith takes a look ahead to the earnings expected out next week from Big Tech stocks and fast-food companies, as well as Fed Chair Jerome Powell's rate hike decision.

This post was written by Luke Carberry Mogan.

Video Transcript

SEANA SMITH: Time now for what to watch next week. Another busy earnings week is in store for investors. Tech giants Microsoft and Alphabet are going to kick things off for us, reporting second quarter results on Tuesday. Meta will follow later in the week. Investors are going to be eager to see how these results shake out after big tech stocks have driven much of the market's gains since the start of the year.

Traders are also going to be looking forward to a slew of fast food earnings next week. That's going to provide a closer read on the consumer and also on spending behaviors. McDonald's, Chipotle, Domino's, among the names to keep a close eye on. And also in focus, Federal Reserve Jerome Powell will be taking center stage once again to report the latest on the Fed policy decision largely expecting another rate hike at the meeting next week.

Most economists they're expecting a 25 basis point hike in July, while the Fed's last month pointed to two more potential hikes this year. We'll have to see what the Fed makes of the latest economic data in its fight to cool inflation.