🚨 Everything that could move the market is hitting in the same week: the Fed, Big Tech earnings, U.S. inflation data, and the Bank of Japan — all amid growing AI spending fears and rising inflation. U.S. midterms are also just days away. Wednesday Fed rate decision: Expected to hold at 3.75%–4.00%. Economists already price another 25 bps hike in December. Hawkish signals from Kevin Warsh could pressure stocks; a less hawkish tone could spark a relief rally. $GOOGL + $MSFT earnings: Two of the biggest AI companies (~$8T combined). MSFT expected ~$90.6B revenue; Alphabet ~$128B. Focus on AI spending, cloud growth, and whether AI is actually generating strong returns. Big beats could revive the AI rally; misses risk hitting the whole tech sector. Thursday $AMZN + $INTC + $SNDK earnings: Another major AI test. Watch Amazon’s AWS growth, Intel’s chips, and Sandisk’s memory demand for real AI spending strength. With tech dominating the S&P 500, these can move the broader market. U.S. PCE inflation + GDP: Headline PCE expected to rise to 3.6% (from 3.4%). Core PCE seen at 3.1% YoY with a 0.3% monthly gain. Q3 GDP expected ~3.2%. Hot inflation raises odds of more Fed hikes; cooler data could fuel a strong stock rally. Friday Bank of Japan rate decision: Rate already at 1.25% (31-year high). Expected to hold, but another hike remains possible later this year. A surprise could strengthen the yen and pressure global markets via the yen carry trade. Two major central banks, some of the world’s largest tech companies, and key inflation data are all in focus. Cooler inflation + strong Big Tech results could drive a massive rally. Hot inflation, a more hawkish Fed, and disappointing AI earnings could trigger another major selloff. This looks like one of the most important market weeks of 2026.