If you’re keeping score for stocks this week, it's two up days and two down days.
How will stocks react this Friday the 13th? It looks like U.S. futures are a little spooked. After the second-best rally of the year on Wall Street Thursday, sending the Dow up 181 points, futures are down 60 points Friday morning.
Continue Reading Below
China reported first-quarter gross domestic product growth of 8.1%, less than expected and the slowest growth in about three years for the world’s No. 2 economy. Asian markets, however, closed mostly higher Friday, taking China’s slowdown in stride. There were whispers yesterday that the number would breach 9%.
Google (NASDAQ:GOOG) was out with its first-quarter earnings last night and the Internet giant, true to form, posted giant numbers. Profit came in at $2.9 billion, marking a rise of 61% from a year ago. Google shares are up fractionally in the pre-market, after closing 2.37% higher at $651.01 Thursday. Google also announced a 2-for-1 stock split.
But not everything was rosy in Google’s latest report card. Some analysts are focusing on a measure known as “cost-per-click.” While the number of clicks by users on its ads increased 39% in the quarter, the prices advertisers paid for those ads were down 12% from a year ago. That decline was worse than anticipated and may reflect more mobile and tablet traffic.
JPMorgan (NYSE:JPM) has kicked off the first-quarter earnings season Friday morning for the major financials with a profit of $5.4 billion, handily beating Wall Street estimates. JPMorgan credited more mortgage loans and increased business in its investment banking unit.
JPMorgan is a Dow component and shares are fractionally higher before the opening bell.