A rough April for Wall Street has seen the S&P 500 slide for three straight weeks, and now investors will grapple with a loaded slate of earnings reports and key inflation data. Rising interest rates and persistently high inflation have weighed on stocks and created concerns about an economic slowdown. The coming days will bring fresh looks at some the world’s biggest companies, as well as economic growth.  The week ahead features big reports from nearly every industry, but tech stocks will be a main focus.

So far 20% of the companies in the S&P 500 have reported actual results for Q1 2022 to date. Of these companies, 79% have reported actual earnings per share above estimates, which is above the five-year average of 77%.

Mortgage rates rose for the 7th consecutive week last week driven higher by the higher yields in the bond market.  The average 30-year fixed-rate mortgage increased to 5.11% for the week ending April 21, according to Freddie Mac. This is up from last week's 5% and last year’s 2.97%. Other mortgage rates also increased this week. The 15-year mortgage rate nearly doubled since last year, rising to 4.38%. That’s up from 2.29% last year.  Although rising interest rates and higher home prices are making homeownership more expensive for many homebuyers, it is also helping reduce the intense competition seen in the housing market over the past year.