Sam Boughedda

Investing.com – Stocks reversed losses in the early afternoon, lifted by the tech stocks as they prepared to roll out earnings this week.

Twitter Inc (NYSE:) was a major focus, and it finally confirmed it had accepted Elon Musk’s $44 billion take-private offer. The future plans of Musk with the social media giant, which was a place for trolling as well as public discussion, remain to be determined.

Tuesday’s report launch will include reports from major tech companies like Microsoft. Later this week, Alphabet (NASDAQ) and Meta Platforms Inc(NASDAQ:) will be available, as well as Twitter.

This week also sees the release of housing and employment data, as well as the latest readings on oil inventories.

Congress returned to Washington this week to take up President Joe Biden’s remaining agenda items left unfinished after his Build Back Better proposal for social and energy spending stalled in the Senate.

Senators are pushing for additional money to fund Covid-19 treatment, clean energy projects and other social programs like child care and early learning. Democratic lawmakers are expected to try and push through some remaining items before the fall’s midterm elections.

The Senate also still faces a confirmation vote on Biden’s Federal Reserve nominees, who have already had their hearings but have been waiting for a final vote. The group includes Jerome Powell, who will be returning to the Senate for his second term and is expected to chair next month’s policy meeting, when rates could rise.

These are the three factors that will affect tomorrow’s markets.

1. Earnings at Alphabet

Alphabet, Microsoft and others will release significant earnings reports this week.

Polled analysts Investing.comAlphabet Inc Class A (NASDAQ:) will report earnings per share at $25.89 for revenue $68.08 billion.

2. Microsoft shares

They expect Microsoft Corporation (NASDAQ 🙂 to post earnings per share in the range of $2.19 and $49.01 billion, respectively.

3. Consumer confidence

Tomorrow at 10 AM ET, April’s number, which gauges consumer confidence in economic activity will also be published. Analysts predict a 108.0 reading, which will be higher than 107.2.