Google's stock is taking a beating right now, how will the market react tomorrow? Google released their earnings today, and their PE is below 100. They are currently rumored to be in talks with Napster, but their credibility has taken a serious hit with the much discussed aquiesance to China over their search engine there.
http://finance.yahoo.com/...
It's down over 60 dollars in after-hours trading. Might be witness a huge sell-off of tech stocks tomorrow?
Recent threads, particularly the savings thread has certainly heightened the perception of impending financial collapse. Oil was a little lower today, but remains higher. The market may move tomorrow on the SOTU address, and how Bush addresses the energy market. OPEC appears to be continuing its policy of keeping production levels steady. Of course the present Iranian uncertainty, being a producer of oh, 2.6 million barrels a day contributes greatly to the uncertainty, and price of oil currently.
On a similar note, Exxon Mobil released its earnings, and as the NYT stated "In one measure of Exxon Mobil's wealth and influence, its revenue of $371 billion surpassed the $245 billion gross domestic product of Indonesia, an OPEC member and the world's fourth most populous country, with 242 million people." They pulled in a profit of 36 billion dollars in a time of soaring oil prices and massive heating costs for many.
On a more positive note the Enron trial has actually proceeded, with opening arguments hears.
The federal reserve also chose to raise interest rates again, but did not appear to be concerned about what some have called weak growth for the 4th quarter of 2005. The Fed also said ""possible increases in resource utilization as well as elevated energy prices have the potential to add to inflation pressures."
Tommorow could be an interesting day for the markets. A lot of bad news out right now. President Bush's SOTU could certainly shift things either way. If investors see a lot of pork coming out of his proposed projects, that might blow some wind back into a few companies sails.