U.S. stocks rallied Thursday.
NEW YORK (CNNMoney)
China posted stronger than expected growth figures earlier Friday, and the earnings season continues apace with results from General Electric (GE, Fortune 500), Morgan Stanley (MS, Fortune 500) and Schlumberger (SLB) due before the opening bell.
Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ.
Investors will also be monitoring the ongoing troubles at Boeing (BA, Fortune 500), which has been in focus this week due to problems with its new 787 Dreamliners that have prompted authorities around the world to ground the planes.
In economic news, the University of Michigan will release its consumer sentiment index at 10 a.m. ET Friday.
Intel (INTC, Fortune 500) shares sank 5% in after-hours trading Thursday after the chipmaker reported quarterly profits that fell 27% from a year ago.
Capital One (COF, Fortune 500) shares fell 7% after hours after the the financial firm reported quarterly earnings that missed expectations. AT&T (T, Fortune 500) shares were down 1.8% after hours following the company's announcement that it will take a charge of $10 billion in the fourth quarter related to its pension plan. The company expects operating income for the quarter to be $175 million lower due to Superstorm Sandy.
U.S. stocks rallied Thursday, with the Dow closing near a 5-year high as upbeat reports on the economy offset mixed corporate results.
Fear & Greed Index
European markets were narrowly firmer in morning trading, following a positive lead from Asian markets which gained after China published stronger than expected gross domestic product data showing growth accelerated in the fourth quarter of 2012.
First Published: January 18, 2013: 3:47 AM ET
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