As we mentioned in the webinar, Earnings would take front and center stage.  Earnings reported in Facebook drove the stock down 20% pulling the market down with it.  The Dow Jones Industrial Aveage proxy (DIA) is up $1.10 or 0.43%.  Deere (DE), $142.70, is also up on the day but has already pulled back $1.00 from the high of the day. VZ is up small sitting just above the 20 day simple moving average.

American Express (AXP), made a new swing high to $103.15, but was $0.10 from setting a new high and is till sitting around the $103 mark.   Mastercard is down 5.38, V is down $0.87, PYPL is down $1.10, SQ is down $0.87.  So in comparison AXP is outperforming the sector.

The SPX is having an inside range day so far.  It is down slightly but has had a pretty tight range so far.  It met some resistance near yesterday’s highs.

Big numbers are being discussed for Fridays GDP report.  It is all about managing expectations though.  If the market expects a high number and doesn’t get it then we can get a sell off, or if the expectations are in line, then we may be making new highs across the board.

Keep and eye on the earnings tonight combined with GDP tomorrow!