Meadows on the Markets

Maybe. There is just too much uncertainty between now and the market’s open tomorrow for us to be confident.

Following the bell, Google (GOOG) reported earnings. Analysts were expecting revenue in the $8.15 billion range giving EPS of $9.65. GOOG reported earnings of $10.08 and revenue of $8.1 billion. Early reports suggest that GOOG might also do a 2-for-1 stock split. Investors are digesting the report, which is near the flat line in after-hours trading.

In addition, traders hopes are high for Chinese Q1 GDP, which will be released tonight. Whispers on the Street have GDP surprising to the upside and reading 9% vs. 8.4% expected. A print below 9% will likely see equity markets in the red come tomorrow morning. 

Tomorrow morning, earnings season continues with Wells Fargo (WFC) and JPMorgan (JPM) reporting. If those disappoint, financials could lead the broader market lower. If the opposite is true, markets could be set up to test recent highs early next week.

At this point, traders can only react to the news as it happens.