In a market plagued by uncertainty, Mohamed El-Erian is turning to this week’s earnings — from key technology names such as Microsoft and Alphabet , to industrial heavyweights General Electric and General Motors — for further clarity. “Given what we know, and especially what we don’t know, I wouldn’t bet against these markets. I wouldn’t bet in favor of these markets,” El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge, said Monday on “Squawk Box.” “I would actually just wait and see.” El-Erian said he is looking at three factors during this week’s busy earnings schedule: the impact of cost-cutting measures within mega-cap tech companies; the pricing power of big-name companies, such as Coca-Cola , with strong brands and market share; and First Republic earnings scheduled for after the bell on Monday. Roughly one-third of S & P 500 members are set to report earnings this week, with investors looking to technology giants and other sector heavyweights for further clues about the health of the entire economy. Google and Microsoft are set to report their latest results on Tuesday, Facebook-parent Meta on Wednesday, and chip giant Intel Thursday. Coca-Cola on Monday reported quarterly earnings and revenue that beat analysts’ expectations, driven by the company’s price hikes and higher demand for its drinks. So far, roughly 76% of S & P 500 companies that have reported earnings through Monday have fared better than analysts’ expectations, according to FactSet data. When all is said and done, first-quarter earnings for companies in the entire index are estimated to decline an 5.2%, however, per Refinitiv. El-Erian, the former CEO and co-CIO of PIMCO, said he expects First Republic earnings, funding costs and loan-loss provisions to give further clues as to the state of the financial industry, and will especially focus on whether the beaten-down regional bank has stabilized deposits. Eleven larger banks had deposited a combined $30 billion into First Republic last month to help backstop the bank from depositor outflows. “We need to get a feel for how much credit extension is going to come down. We know it’s going to come down, but we don’t know by how much. That’s the big question mark,” El-Erian said. For El-Erian, the other question — already a widespread concern among investors — is how the U.S. Federal Reserve will balance the “trilemma” of persistent inflation while minimizing the damage to jobs and economic growth. Also due this week: U.S. first-quarter GDP, March’s personal consumption expenditures price index (the Fed’s favorite inflation gauge) and April’s consumer sentiment data.