Editorial companion

What stands out

The Federal Reserve kicks off a two-day policy meeting under Chair Kevin Warsh at the same time Wall Street braces for a torrent of tech earnings, including Apple and Microsoft, so this episode is a tidy reminder that macro and micro collide all the time. Bloomberg's tech analysts are focused on AI budgets and semiconductor weakness, which could explain short-term volatility even if long-term narratives stay intact. For anyone who owns big-cap tech, this week will separate which stories are fragile and which have real earnings fuel behind them.