Will Big Tech keep comeback going? | Return to the 'old normal' | Top picks before earnings

The heaviest hitters in tech – Apple and Microsoft – are among the 150 or so S&P 500 companies reporting earnings in the week ahead. But strategists say it will be the course of interest rates that determine what happens to the stock market, as they continue to watch for signs a bottom is forming in equities.

VIEW IN BROWSER | SUBSCRIBE SAT, OCT 22, 2022 WEEKEND BRIEF EDITOR'S NOTE The heaviest hitters in tech – Apple and Microsoft – are among the 150 or so S&P 500 companies reporting earnings in the week ahead. But strategists say it will be the course of interest rates that determine what happens to the stock market, as they continue to watch for signs a bottom is forming in equities.   In the past week, stocks were higher but so were bond yields. The closely watched 10-year was said to be trading like a "meme stock" by one bond strategist as it shot from 4.02% the prior Friday to a high 4.33% Friday morning. But dovish Fed comments helped drive the yield lower, to about 4.20% by Friday afternoon as stocks rallied.   "It's the level of interest rates that are driving equities," said Gargi Chaudhuri, head of BlackRock's iShares investment strategy America. "I would like to say it's going to be the trajectory of earnings, but frankly that's not what we're finding. It's not the micro driving markets these days. It's the macro." Patti Domm | CNBC Markets Editor @pattidomm THE WEEK AHEAD Stocks could continue to break higher as Apple, big tech report earnings in week ahead MICHAEL SANTOLI'S MARKET COLUMN The markets are returning to the 'old normal' of higher bond yields — what it means for investors ACTIVIST SPOTLIGHT Two potential opportunities for value creation emerge as Starboard takes a stake in Salesforce YOUR WEEKEND BRIEFING  Cramer's week ahead: Earnings season heats up and companies could 'keep flying' barring a severe slowdown Analysts are pounding the table for these 'well positioned' stocks head of earnings China shuffles leadership committee and retains many Xi allies These options trades look cheap ahead of earnings, Goldman says Court temporarily blocks Biden's student loan forgiveness RBC calls this stock the most compelling long-term growth story it covers Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS