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RPT-Starting with Netflix, FANG reports to test Wall St rally's mettle

SAN FRANCISCO, July 16 (Reuters) - A wave of quarterly reports from Netflix and other top-tier, high-growth companies starting on Wednesday will test Wall Street's willingness to extend a recent really driven by expectations of lower interest rates. Facebook, Amazon and Google-owner Alphabet , all part of the so-called FANG group of widely held stocks, have jumped over 5% so far in July, with investors increasingly willing to bet on the volatile names thanks to expectations the Federal Reserve will cut rates later this month by as much as half a percentage point to support economic growth. The FANG companies, combined with investor favorites Apple and Microsoft, account for about 17% of the S&P 500's $26 trillion market capitalization, making reaction to their quarterly results key to Wall Street sentiment. The reports by Netflix, scheduled for after the bell on Wednesday, followed by Microsoft on Thursday, and Facebook, Amazon and Alphabet next week could fuel gains on Wall Street, or put an end to the market's recent strength.

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