Futures point to a higher open on Wall St Friday after strong earnings reports from Google, Inc. (GOOG) and General Electric Company (GE). Google matched Apple’s strong report in the race for tech supremacy, and also announced in a surprise move that co-founder Larry Page would be assuming the role of CEO, replacing Eric Schmidt who will be come an executive chairman. The stock is trading more than 2% higher after-hours. GE harkened back to the Jack Welch days with a 52% jump in 4th quarter income. The stock is opening above the recent ceiling of $19, up more than 4% after-hours.
The market reversed yesterday after early selling, once again showing resilience. As investors look to buy the dips, pull-backs are muted and you have to be quick to get good prices. Despite the market keeping the uptrend intact, there is some major technical damage across several leading sectors, including the cloud computing and agricultural stocks. (Morning Call video after the jump)
*DISCLOSURE: Long GOOG
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