Wednesday will be an eventful day for investors.
With fourth-quarter GDP in the morning, the Federal Reserve’s decision on interest rates in the afternoon, and Google’s earnings after the close, it may also turn out to be a pivotal day.
Google is expected to report quarterly sales of $2.19 billion, up 70% from the year-ago quarter. Analysts’ estimates for the search king range from $2.05 billion on the low end to $2.31 billion on the high end, according to Thomson Financial. Google is expected to report earnings of $2.90 a share, and investors will likely be looking for the company to beat those forecasts.
Stocks edged higher Tuesday ahead of Wednesday’s news, led by a 7% spike in shares of Motorola , which gained on news of a Carl Icahn stake. Weak results from 3M
weighed on the Dow.
CNET and JDA Software
rose 9% each on their results, while Kronos
climbed 8% on its numbers.
Genesis Micro tumbled after missing estimates and warning, while Lexmark
lost 6% after lowering guidance.
After the close, Juniper and SanDisk
fell on their results.
The Nasdaq added 7 to 2448, the S&P 500 rose 8 to 1428, and the Dow gained 32 to 12,523. Volume declined to 2.71 billion shares on the NYSE, and 1.86 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 18-11 on the Nasdaq. Upside volume was 71% on the NYSE, and 65% on the Nasdaq. New highs-new lows were 198-18 on the NYSE, and 161-38 on the Nasdaq.