Sam Boughedda

Investing.com – U.S. stocks climbed out of a deep hole on Wednesday, lifted by strong earnings reports from Microsoft Corporation (NASDAQ:) and Visa Inc This class (NYSE: Class A) helped with some of the less impressive results in other areas.

A new wave of tech earnings is on Thursday with reports coming from Apple and Amazon. Twitter Inc (NYSE:) and chip manufacturer Intel Corporation (NASDAQ (NASDAQ:).

The tech sector has beaten off a double-whammy of investor fears about slowing growth in China because of the potential for more Covid-19 lockdowns and the Federal Reserve’s seemingly aggressive stance on taming inflation.

The Fed’s next policy meeting starts Tuesday, and by this time next week, investors will have answers on how much it will raise rates and what it sees down the road. After the publication of the rate decision, Chair Jerome Powell will host a press conference on Wednesday.

Biden’s administration is also trying to combat public perceptions regarding inflation. It has been running at an unprecedented pace in recent decades. Congress has approved funding for social programs, such as early education and child care. This is in the belief that it will control inflation by increasing employment.

Some lawmakers, however, have balked at additional spending beyond last year’s $1.2 trillion infrastructure spending bill.

The President Joe Biden is also looking for ways to reduce gasoline prices which has impacted household spending. Biden has committed to releasing millions of barrels from the Strategic Petroleum Reserve, and has criticized the industry’s slow growth.

Prices for oil rose by 0.3% on Wednesday to close at $101 per barrel. In the United States, the average gasoline price at the pump is now $4.134/gallon, up from $2.885/gallon last year.

These are the three factors that will impact markets tomorrow.

1. Apple earnings

Apple Inc. (NASDAQ:) reports after the bell. This technology company beat revenue and earnings estimates from its previous release. The polling of analysts by Investing.comForecasting earnings per share at $1.43 for revenue $94.15 billion

2. Amazon.com Earnings

Amazon.com Inc. (NASDAQ:) will release its earnings report shortly after the close. Analysts expect earnings of $8.37 on revenues of $116.46 million.

3. Earnings at McDonald’s

And finally, McDonald’s Corporation (NYSE:) is another of the big names to report Thursday, this time before the open. McDonald’s will report earnings of $2.17 and revenue of $5.57billion.