A look at the day ahead in European and global markets from Kevin BucklandMega-tech earnings remain in the spotlight on Thursday, particularly after the Bank of Japan's as-expected decision to hold policy steady failed to give the market any new trading cues.Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN), two of the so-called "Magnificent 7", will report results to Wall Street on Thursday, picking up from Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT) on Wednesday, and Alphabet (NASDAQ:GOOGL) the day before that.That'll leave AI darling Nvidia (NASDAQ:NVDA) as the only one left to report, although its financial statement is still three weeks away.Tesla (NASDAQ:TSLA) got things rolling on a high note last week, exciting investors with bold EV sales forecasts.Alphabet kept the momentum going by beating profit and revenue estimates on strength in YouTube ad sales and its cloud business.But the mood soured overnight, after Microsoft and Meta flagged ballooning costs from AI investments, making investors antsy about what Amazon will say on the topic.Alphabet had also noted on Tuesday that AI expenditures would stay high, but at that point in the week it didn't appear to be a trend.AI fever has driven Wall Street - and by extension many global equity markets - to all-time peaks this year, so any signs of weakness in the rally's foundation are sure to shake markets.Witness AMD (NASDAQ:AMD)'s 10% plunge overnight on disappointing AI chip sales, dragging down shares of no less than Nvidia, among other chipmaking peers.In Europe, bank earnings still hold centre stage, with BNP Paribas (OTC:BNPQY), SocGen and ING among the lenders on deck today.investing.com