95 pontiac grand am gt major loss of power in drive & banging noise when in park

Ever since i had my grand am it has made a knocking noise in park but i am unable to locate the problem whenever you rev it past 1000 rpm it starts to knock and as you rev more it becomes a more powerful knock.

However now i have another problem along with that. when i put it in drive i have almost no power it sputters along and it has a hard time getting up to speed. I have no clue what this problem is either. i just replaced the plugs and wires and when i bought the car i replaced the alternator. Please help

Thank you for your time
comments are appreaciated

You might check to see if your timing is correct, over the course of several years, the timing slowing go off. If thats not it you might check for a broken valve or rod.