Stocks Hold Steady as Investors Await Major Earnings Reports

US stocks were mixed as heavyweights in every sector prepare to report earnings this week, with 40% of index earnings slated to report, including Microsoft, Meta, Amazon, and Alphabet. Bank of America warns that the market is underestimating the cyclicality of Tech. Economic releases this week include consumer confidence, new home sales, durable goods orders, and the closely watched employment cost index. Bed Bath & Beyond filed for bankruptcy, while Coca-Cola reported Q1 global sales rose 5% to $10.98 billion, and Koninklijke Philips set aside funds to cover possible litigation costs in the US related to the recall of 5.5 million faulty medical devices.