SPX: FOMC and earnings week fuels volatility

For the second week in a row markets continue to trade in a mixed mood. There are a lot of uncertainties related to politics, geopolitics and its impact on the economy and business of US companies. This week the gathering of prominent political and business people occurred in Davos, but it seemed that the main topic of the meeting was Greenland and the next move of the U.S. Administration. In addition, there were also announcements regarding potential new tariffs on goods from Canada and the European Union, which all put investors into a continuous risk-on-risk-off mood. The S&P 500 reached its lowest weekly level at 6.791, but tried to recover from this level for the rest of the week, closing it at 6.915.
Tech companies were among those who were adding to the value of the index. Nvidia climbed by 1,5%, while Advanced Micro Devices was traded higher by almost 2%. Microsoft and Google also posted solid weekly results. On the opposite side was Intel, which dropped by 17% for the week. Although its quarterly results beat market expectations, still, a guidance for the next quarter did not satisfy investors' appetite for the risk and Intel's shares dropped.
The week ahead brings the FOMC meeting and interest rate decision. Some volatility might be expected around and on Wednesday, when the meeting will occur and Fed Chair Powell's address to the public. As per current odds, there is a 95% chance that the Fed will not cut interest rates at this meeting. Also the week ahead will be important as some big names in tech are posting their quarterly results, including Apple, Microsoft, Meta Platforms, Tesla, IBM, Intel. Based on these data, we can expect another volatile week on the US equity markets.