Another down day nearly erased at the close. Good earnings from GOOG have previously not been known to be a market mover the next day. It is the first big positive response to earnings season, and it is going to be interesting to see the market’s reaction to such a good report.
We also have General Electric’s earnings report in the morning, and there are issues with financials due to the mortgage mess. With a lousy job numbers this morning and inflation ticking up on the PPI, could stagflation be around the corner? Will we be able to grow corporate earnings fast enough? How will the poor and jobless keep up with soaring food, clothing, and energy prices?
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