investors pulled back on tech shares monday ahead of a deluge of marketmoving central bank and corporate announcements in the coming days the unusually newsjammed stretch includes wednesdays announcement from the federal reserve which is believed will undertake another large threequarter of a percentage point interest rate increase as it seeks to counter inflation the government is also set to release its first estimate of secondquarter growth if the report shows a contraction that would meet at least one technical definition of a recession two consecutive quarters of negative growth also on tap an extremely heavy week of earnings reports featuring tech giants like apple and industrial behemoths such as boeing and general motors along with mcdonalds and other consumeroriented names the dow jones industrial average ended up 03 percent at 3199004 the broadbased sp 500 won 01 percent to 396684 while the techrich nasdaq composite index dropped 04 percent to 1178267 the pullback in nasdaq reflects reticence ahead of an intense 72hour stretch that will see releases from most of the biggest us companies beginning tuesday with google parent alphabet and microsoft investors wont want to touch nasdaq stocks until we hear from alphabet tomorrow and if they dont like what they hear they may wait to see if thursdays massive results from apple and amazon provide any reasons to be optimistic with tech stocks said a note from oandas edward moya