The market is in the midst of a delicate balancing act.  On one hand, there is growing relief inflation is easing. And yet, on the other hand, there is growing angst that there will be a recession that could be deeper for longer if the Fed blows it.

There are now daily signs the economy is slowing, including business investment this morning.

All eyes on earnings after the bell, this time Meta Platforms, Inc (META) takes center stage.  The stock is expected to move 10% in either direction.  Note: there has been nothing but earnings miss since the company changed its name, and this time, it will take more than layoffs to move the shares higher.

Service Now (NOW) also reports.  This is becoming a very important name in the market, especially in the NASDAQ.  The earnings history of late is almost unblemished.

And KLA-Tencor (KLAC) steps up to the plate to try and help semiconductor stocks get back on track.