A random walk through the world of economics, investing and personal finance.
After missing earnings today after the bell Google is trading down almost 8% in after hours trading. Google could trade tomorrow back in the 400's . . . . territory it hasn't visited since the end of May. This is only the second time Google has missed earnings and obviously the market was not impressed with Google's 28% profit growth. The 7.5% drop washed away roughly $13 billion of market value.
Macro Numbers
Real GDP +0.6% in 2008Q1, Comp. Ann. Rate of Chg.
12-Month PCE +3.4% in February 2008, % Chg. Year Ago
12-Month PCE excluding food & energy +2.0% in February 2008, % Chg. Year Ago
Civ. Unemploy. Rate 5.1% in March 2008
IP -0.5% in February 2008, % Chg.
Bonds and Rates
Fed. Funds Rate 2% on
Fed. Funds Rate (effective) 2.21% on
10-Yr. Treas. Rate 3.738% on
ML High Yield Index 10.069% on
10-Yr. TIPS Rate 1.460% on
National 30-Yr Fixed Mortgage Rate 5.8% on
National 30-Yr Fixed Jumbo Mortgage Rate 7.17% on
Foreign Exchange
US/Euro FX Rate 1.5626 on
Japan/US FX Rate 103.76 on
Commodity Prices
Crude Oil 114.63 on
Natural Gas, Oct 10.868 on
Gold 876.4 on
1 comment:
Google bounced nicely off of its 50 day MA this morning. It is still up 12.95% on the year and my feelings on the company haven't changed. It will be increasingly important however to monitor the quality of their acquisitions and the growth of their workforce.
--Ryan
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