Mega-Cap Week: Apple, Amazon, Microsoft Report

Today kicks off one of the busiest earnings weeks of the year. Three of the world's five largest companies report results in the next 48 hours.

MSFT holds its earnings call today at 5:30 PM ET. The $2.9 trillion software giant faces high expectations around Azure cloud growth and AI monetisation. Also tonight, LRCX and QCOM report after the bell. Qualcomm's results will be closely watched for smartphone demand signals.

Tomorrow is the biggest day. AAPL reports after the close. The $5 trillion company is Apple — any guidance on iPhone sales in China will move markets. AMZN also reports Thursday. Amazon's AWS cloud revenue and advertising trends are the key metrics to watch. REGN and BMY report Thursday morning. Both are in focus as biosimilar competition intensifies.

BLDR and PWR also report Thursday. Both are infrastructure plays. Their outlooks on construction activity will signal US economic health.

Later in the week, AMGN and BKNG report Monday. Booking Holdings will be key for travel demand data heading into autumn.

On the IPO front, no confirmed new listings are scheduled in the next seven days. The pipeline remains quiet.

Over in Europe, Eni reports today. The Italian energy major's results come amid volatile oil prices. Danone and Porsche also report Wednesday, adding further breadth to a packed global earnings calendar.