CNBC Daily Open: Big Tech earnings loom large

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Stocks make weekly gains
The S&P 500 and Nasdaq Composite finished Friday slightly lower, ending a six-day winning streak. The blue-chip Dow bucked the trend, climbing 0.16%. Despite the mixed session, all three indexes finished higher on the week, thanks to encouraging economic data. The core personal consumption expenditures price index, the Fed’s favored inflation gauge, increased 0.2% in December bolstering investor confidence a day after fourth quarter GDP rose more than expected.

Tech layoffs surge
Silicon Valley's tech companies are slashing headcount at a rapid pace. Since the start of January, some 23,670 workers have been laid off from 85 tech companies, according to the website Layoffs.fyi. Some are laying off staff in parts of the business to invest more heavily in developing AI products.

China ramps up pressure on Taiwan
Beijing has sent dozens of military aircraft and naval ships toward self-ruled Taiwan. The move came on the same day U.S. national security advisor Jake Sullivan met Chinese Foreign Minister Wang Yi, as both sides aim to stabilize U.S.-China relations.

U.S. crude oil notches best week
U.S. crude oil closed out its best week on Friday in more than four months, as robust economic data in the world's two largest economies raised hopes for more strong crude demand this year. U.S. crude posted its best week, rising 6.27%, since Sept. 1, while the global benchmark was last up 6.35% for the week. WTI and Brent have each risen by more than 8% for the year.

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