Silicon Valley giants are due to "hand in their papers" this week, with quarterly reports from star tech stocks including Amazon, Microsoft, Alphabet and Meta Platforms all set to be widely watched。

In addition, the U.S. Eastern time on Thursday (April 27) announced the first quarter of the U.S. gross domestic product (GDP) initial value will also be the focus of investors closely, the current market is expected to the U.S. economy in the first three months of this year's annualized growth rate of 2%。

Some investors also expect U.S. corporate profits to show two consecutive quarters of decline this earnings season。The movement of major U.S. stock indexes last week has broadly reflected the mixed reaction to corporate earnings, with none of the major indexes falling more than the Nasdaq 0.42% decline。

According to data released by FactSet on Friday, as of April 21, combining already announced results with analyst expectations, S & P 500 companies' first-quarter earnings are expected to fall by 6.2%。A week ago, the market expected S & P 500 earnings to fall 6.7%。

It is worth noting that if earnings fall 6.2%, which will be a 31% decline in earnings from the second quarter of 2020..Biggest drop in earnings since 6%。As of last week, the overall earnings level of listed companies that have reported earnings was 5% higher than expected..8%, less than 8.5-year average of 4%, also below 6.10 year average of 4%。

Thomas Martin, portfolio manager at GLOBALT Investments, said in a media interview on Friday: "We are getting a lot of mixed signs from companies with various reports, even companies in the same industry," and "I'm afraid we will have to wait another quarter or two before we get the exact information in some way."。"

D.A.Davidson analyst Tom Forte also conveyed pessimism in a media interview: "Expectations are low," Forte also stressed that layoffs across the industry continued during the quarter, suggesting that things in the tech sector will only weaken.。

Forte said: "If they cut jobs, especially at the end of the quarter, it shows that macroeconomic challenges are increasingly difficult.。"。"I think when you combine the mini-financial crisis in banking with the layoffs at Roku and Pinterest, it suggests that digital advertising may have taken a step back in the March quarter."。"

According to media sources, Meta's managers have been told to prepare for additional layoffs in its Facebook, WhatsApp and Instagram divisions。

In terms of economic data, many economists believe that the first quarter will be a high water mark for economic growth this year.。

Thursday's GDP report comes amid conflicting data on whether the economy is growing or contracting。While Thursday's report is likely to show economic growth in the first quarter of the year, almost all of that growth came in January, according to Oxford Economics.。

Michael Pearce, chief US economist at Oxford Economics, wrote in a note last week: "The results of the April survey released so far have been mixed, indicating that the economy began to slow further early in the second quarter of this year.。"。"At the same time, there are early signs that tightened bank lending standards are taking effect, but the full blow to economic activity won't be felt until later this year."。"

Reports released last week from a number of banks around the world confirm this view.。The report data suggests that while the market's deepest concerns about the sector have yet to materialise, billions of dollars in deposits have left the institutions and deposit costs are starting to soar.。