A stock market graph with an iPhone.Photo: Jaap Arriens/NurPhoto via Getty Images

More than 100 S&P 500 companies will report quarterly results this week, but Apple and Facebook are the headliners.

Why it matters: Tech companies' good results have not been good enough for investors, as we saw with Alphabet and Amazon this week. Apple and Facebook could further drag tech sentiment down, or turn the tide.

What to watch

Apple, the world's most valuable public company, is expected to report strong results thanks to a boost in the "average selling price" metric from pricier phones, not necessarily more iPhones sold.

  • Sales of the $750 iPhone XR won't be included in these results, and only 10 days of the more expensive iPhone XS and XS Max sales will be included, per MarketWatch.
  • Expect CEO Tim Cook to field questions about Apple's upcoming holiday quarter, its growing services business, and U.S.-China relations, though Apple's products were spared from the latest round of tariffs.

Facebook gave dismal guidance for the rest of 2018 back in July, so expectations for this quarter are low.

  • Since the Cambridge Analytica scandal, each quarterly report is make-or-break for Facebook. The critical question: how much profitability is being squeezed by the company’s attempts to recover from its many controversies?

What else to watch: Alibaba will also report, along with General Motors, General Electric and Starbucks. Plus the big oil companies will release quarterly results.

Go deeper

2 hours ago - World

U.S. policy shift will allow taxpayer funding for projects in West Bank settlements

Friedman (L) with Netanyahu. Photo: Menahem Kahana/AFP via Getty Images

The U.S. and Israel will announce tomorrow that they are expanding three agreements on scientific cooperation to include Israeli settlements in the West Bank, Israeli and U.S. officials tell me.

Why it matters: This is a substantial policy shift for the U.S., which did not previously allow its taxpayers' money to be spent in the Israeli settlements.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

McConnell: Confirming Amy Coney Barrett will help GOP retain Senate

Photo: Samuel Corum/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) expressed no regrets about Judge Amy Coney Barrett's controversial confirmation, telling Politico in an interview that he believes the decision to place her on the Supreme Court just a week before the election will help Republicans retain the Senate.

Why it matters: With a week to go until Election Day, many Republicans are concerned that President Trump's unpopularity could cost them the Senate. McConnell has long viewed the transformation of the federal judiciary through the confirmation of young conservative judges as his defining legacy.