Amazon.com.Inc., United Parcel Services Inc., and Exxon Mobile Corp among others are gaining pace in the busy earnings week despite supply chain challenges and inflation.

As the week kicks off, more than 100 companies in the S&P 500 are set to report fourth quarter results through Friday. Investors will be tuning into presentations from Amazon, Meta (formerly known as Facebook) and Alphabet are three among five other companies expected to set benchmarks in total market capitalization.

Amazon is likely to report figures for the last three months of 2021 and analysts are predicting adjusted earnings per share of $ 3.89 on revenue of $ 137 billion. However, the fourth quarter performance is said to be a make or break for the e-commerce giant as markets reassess tech valuations, with the stock down at 15.5 percent as of last week.

Amidst increasing sales in technology stocks, Meta has also been in hot waters in the recent weeks. Investors are keen on hearing news about its Oculus virtual reality headset by its Tuesday resort, which could perhaps give a boost to the social media giant, says stock watchers. Meta is expected to report earnings of $ 3.83 per share, $ 33.44 on revenue, according to Bloomberg estimates.

Employment data will be the focus of attention this week on the economic front. The Department of Labor's monthly jobs report, due out on Friday, will provide an updated look at the strength of hiring and labor force participation — key indicators of the US economy that have become even more important in recent weeks as the impact of the latest Omicron-driven wave begins to show up in recent surveys.

Private companies are expected to add 150,000 jobs in January, a decrease from the previous month, according to economists. According to Bloomberg consensus projections, the unemployment rate will remain steady from December's 3.9 percent.

Despite the fact that Omicron's spread is narrowing, Pantheon Macroeconomics Chief Economist Ian Shepherdson believes that payrolls will be a little slower to adapt to lowering COVID-19 cases than real-time activity data.

“The surge in COVID cases has created new headwinds for the economy even as tailwinds, including the federal government’s fiscal boosts, are waning,” says Bankrate senior economic analyst Mark Hamrick.

“The detrimental combination of supply chain constraints and the shortage, or lack of availability, of workers amid the Omicron surge is weighing on the nation’s economic recovery,” adding that under the circumstances, “it is hard to make the case for a huge acceleration in hiring this month”, adds Hamrick.