Earnings Week and Jobs Report Loom Over Uncertain US Market

The US stock market remains uncertain as it heads into a big week of earnings reports and the monthly jobs report. The S&P 500 has gained for the week, but is still 1.6% below its June 2 record high.

Investors are digesting mixed results from megacap companies like Microsoft and Meta Platforms. Microsoft shares jumped after an upbeat forecast on cloud growth, while Meta's reported a plunge in cash flow.

The Federal Reserve's monetary policy meeting left investors unclear about interest rate implications. The 'hawkish hold' decision has sparked confusion over the central bank's plan to rein in inflation.