'Icarus' market tipped to fly higher on big tech's earnings

US stocks hit yet more highs last week as the mega-cap tech stocks moved into a new stratosphere after strong earnings reports.

This week, a solid jobs report and more positive earnings from Facebook and Apple could drive what analysts at Bank of America have called the "Icarus" market to more new heights.

More than half of the Standard & Poor's 500 companies have reported third-quarter earnings, with the majority exceeding Wall Street targets, according to data provider Thomson Reuters.