06:28 AM EDT, 10/21/2024 (MT Newswires) -- US equity investors will focus on technology companies' quarterly results, expecting the behemoths to help lift markets higher from record levels in a week of relatively light macroeconomic data and the continuing crisis in the Middle East.

* Q3 earnings season comes into full swing this week, with 110 S&P 500 companies scheduled to report results, according to a note from D A Davidson, reflecting the onslaught as firms listed on other bourses also report. US equity indexes rose last week, with the S&P 500 and the Dow Jones Industrial Average new record highs, after earnings got off to a good start and expectations for an interest-rate cut remained alive amid the relatively strong data.

* In the S&P 500, 7% of the information technology companies have reported results, the D A Davidson note said. They have posted almost 55% earnings growth versus the 15% consensus. Investors expect technology earnings to take the baton from banks and push markets higher this week. Amazon.com ( AMZN ) , IBM ( IBM ) , and Texas Instruments ( TXN ) are among the giants reporting this week.

* "`We are expecting a robust 3Q tech earnings season kicking off this week as overall solid enterprise spending, digital advertising rebound, and the AI Revolution will drive tech stocks higher into year-end in our view," Wedbush Securities said in a note.

* Tesla (TSLA), Coca-Cola Company ( KO ) , Verizon Communications ( VZ ) , T-Mobile (TMUS), United Parcel Service ( UPS ) , and Colgate Palmolive ( CL ) are among the non-technology mega-caps reporting this week.

* Key US macroeconomic data lineup includes existing and new home sales, durable goods orders, and initial jobless claims.

* In the Middle East, Israel is pounding Gaza and Lebanon with airstrikes while the US investigates the leak of classified intelligence about Israel's planned retaliation against Iran.

* Investors will watch the polls for any change in the tight race to the White House as Nov. 5 comes closer.