Earnings avalanche ahead | Jack Dorsey says hyperinflation is coming | Best-of-breed earnings plays

Apple, Amazon, Alphabet and Microsoft are among the 30% of the S&P 500 reporting earnings in the week ahead.

VIEW IN BROWSER | SUBSCRIBE SAT, OCT 23, 2021 WEEKEND BRIEF EDITOR'S NOTE There's an earnings avalanche in the week ahead. Apple, Amazon, Alphabet and Microsoft are among the 30% of the S&P 500 reporting earnings in the week ahead. A third of the Dow also reports, and strategists say this is the big test for the market after the Dow and S&P 500 returned to record territory in the past week.   "The tug-of-war in good versus bad earnings reports has landed in favor of the market with the S&P hitting an all-time high. That may run into difficulty next week," said one strategist. "We may finally be seeing some cracks in the earnings season."   So far, about 84% of S&P 500 companies are beating earnings estimates, but those that missed have been punished. Snap's advertising issues wiped out about a quarter of its market capitalization Friday and put the focus squarely on Facebook's earnings Monday and Twitter and Alphabet's reports Tuesday.   There is also third quarter gross domestic product  on Thursday and the personal consumption expenditures data due Friday. That report includes the PCE deflator, the Federal Reserve's preferred measure of inflation. Investors are also watching the 10-year yield which has been  closing in on 1.70% and could test this year's high close of 1.74%. Patti Domm | CNBC Markets Editor @pattidomm THE WEEK AHEAD Big Tech earnings in the week ahead could test stocks' recent rally   ACTIVIST SPOTLIGHT Carl Icahn's tender offer for Southwest Gas sets the table for a proxy fight   YOUR WEEKEND BRIEFING  Twitter and Square CEO Jack Dorsey says 'hyperinflation' will happen soon in the U.S. and the world FDA says Pfizer Covid vaccine appears to be highly effective for young children Jones, Icahn, Einhorn, Gundlach — Some of the biggest names in investing are betting on inflation Wall Street analysts say these are the best-of-breed stocks to bet on heading into earnings How one outperforming energy investor is playing the jump in oil prices Investor Dan Niles says he's sold out of his favorite tech stock ahead of earnings. Here's why     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS