From Fortune:

U.S. stocks rose to start the week, with the S&P 500 setting another record at 4,927.93. Big Tech stocks have propelled the index, and five of them, “the Magnificent Seven,” will report their latest quarterly profits this week.

The Federal Reserve will make its rate decision on Wednesday amid hopes that it may cut interest rates at its next meeting in March.

An economic report on Friday could show continued growth but slower hiring. Traders are wary ahead of the Fed’s meeting, and analysts forecast a fourth drop in earnings per share for S&P 500 companies, despite the Magnificent Seven posting strong results.

Facebook’s Meta Platforms is expected to be the biggest contributor to overall growth for the S&P 500, according to FactSet, and the stock prices of some companies after topping analysts’ forecasts have been unchanged.



Read more: Stocks rise on Wall Street in big week for Magnificent 7 tech earnings