Inflation is soaring. Should the Fed unleash ‘shock and awe’?

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up Investors will get a read on demand for cloud computing from the likes of IBM (IBM) and Microsoft (MSFT). Chip leader Intel (INTC), which has rallied this year despite lingering concerns about semiconductor supply chain issues, is also on tap to report earnings. So are Elon Musk’s Tesla (TSLA) and the world’s most value company, iPhone maker Apple (AAPL). Expectations are high. Wall Street still adores tech stocks, even though the sector and the overall Nasdaq recently fell into correction mode, down more than 10% from record highs. According to data from FactSet Research, 62% of the ratings by Wall Street analysts of tech and communications firms in the S&P 500 are buy ratings. Monday: Earnings from Philips (PHG), Halliburton (HAL) and IBMTuesday: US consumer confidence; Earnings from Ericsson (ERIC), Verizon (VZ), Johnson & Johnson (JNJ), GE (GE), Microsoft, Capital One (COF) and Texas Instruments (TXN)Wednesday: US new home sales: Fed decision; Earnings from CNN parent company AT&T (T), Anthem (ANTM), Boeing (BA), Intel and TeslaThursday: US GDP for Q4; Earnings from Comcast (CMCSA), McDonald’s (MCD), Mastercard (MA), Apple, Mondelez (MDLZ) and Visa (V)Friday: US personal income and spending; Earnings from Chevron (CVX), Charter Communications (CHTR), Caterpillar (CAT) and Colgate-Palmolive (CL)