- Wall Street shrugged off disappointing outlooks from some of the world's largest technology companies, propelling stocks higher on speculation of smaller Fed rate hikes as inflation eased.

- The Nasdaq 100 had its best week since November thanks to the early-year tech revival, with Tesla and Meta  both rising at least 3% on Friday. This is despite Intel bleak forecast, as well as recent troubling remarks from Microsoft and Texas Instruments.

- Next week, market heavyweights Apple,  Amazon and Meta are set to report quarterly results, and investors will get a sense of whether market projections are still too optimistic as the economy slows.

- Companies in the S&P 500 that have exceeded earnings per share and sales projections have outperformed the benchmark by an average of 1.45% within a day of reporting, exceeding the six-year average and those that fell short underperformed by just 1.7%, the least negative reaction in eight quarters, as many companies report taking steps to adjust to shifting business conditions.

- Traders found solace in data showing that the Fed's preferred inflation measures slowed to the slowest annual rate in over a year in December, while spending fell. According to a separate report from the University of Michigan, inflation expectations continued to fall in late January, boosting consumer sentiment.

- The central bank pays close attention to long-term outlooks because expectations can become self-fulfilling and lead to higher prices.

- Treasury Secretary Janet Yellen said she is encouraged by recent inflation and job data, but acknowledged the economy is in danger of a recession. Because of the highly uncertain economic outlook, former Treasury Secretary Lawrence Summers urged the Fed not to signal its next move after an expected hike next week.