Britannia Rules Airwaves,Earnings Rule Market

If you notice that you're starting to speak with a slightly British accent,it isn't surprising,given the royal wedding mania that has swept through the televised world.And why shouldn't it have,given the tough row most people have to hoe?A diversion like that is a welcome relief for the average person.It's an extra holiday.
For its part,the market was living out its own fairy story this week,as corporate earnings continued to please,for the most part.When good earnings are rolling in,economic reality such as poor housing figures and persistently high unemployment may be shoved aside for a while.
Analysts caution,however,that gains in the second half of the year could slow down quite a bit as companies find it increasingly difficult to post the type of results that characterized the last few years.
For the week,however,the Dow was up 2.44,while the S&P rose 1.95 and the NASDAQ 1.89.The Dow and S&P closed at their highest since 2008,and the NASDAQ hasn't been this elevated since the year 2000.
Next week,the earnings parade goes on as General Motors,Pfizer,Kraft Foods and AIG share their results for Q1.The Institute for Supply Management will release its April purchasing manager surveys,and the unemployment report will close out the week.
Stock futures were largely positive Friday evening,with the S&P futures up 4.80,the Dow futures adding 48.00 and the NASDAQ retreating a little,down 1.00.
Winter isn't retreating in some areas.Blizzard warnings are up for the Northern Plains.As much as nine inches of snow are expected in northern North Dakota and adjacent areas.
Kraft Foods(KFT),General Motors(GM),Pfizer(PFE),American International Group(AIG)

Massive Storm Heads East,Wind Shapes Valero Texas Open

A vast storm ravaged the lower 48 the past few days from north to south,killing 10 in Arkansas,Oklahoma and Alabama with tornadoes.In the Northern Plains,it brought blizzard conditions,but by the time it hits the Mid-Atlantic Saturday,it will simply be a rainy,windy day.
At the Valero Texas Open in San Antonio,the wind gusted to 25 mph,keeping scores high.There were only a handful of birdies on Friday as the stiff breeze twisted judgement.Seven players were tied for first at the end of the 2nd round at three under par,all Americans except for Australian Geoff Ogilve,who has seven career victories.
The stock market was less stormy,with modest losses caused by earnings disappointments from the likes of Google,Bank of America and Alcoa.For the week,the Dow lost 0.31,while the S&P dropped 0.64 and the NASDAQ slipped 0.25.Next week will be dominated by a cascade of earnings reports,with one fifth of the S&P 500 reporting.Sharing their Q1 results will be Citigroup,IBM,Intel,General Electric and McDonald's,among others.
The S&P futures were up strongly Friday evening,rising 8.50 on good consumer confidence and industrial production news.
Google(GOOG),Citigroup(C),International Business Machines(IBM),Intel(INTC),General Electric(GE),McDonald's(MCD)
Update:There have been nearly 100 reports of tornadoes in Oklahoma alone,and 120 in Alabama.The death toll form the wild weather has risen to at least 17.The chance of tornadic conditions is reportedly about 40% for Virginia on Saturday,and about 70% for North Carolina.
April reports of severe weather have been nearly double the average number this year.
In the Northern Plains,12" of snow has fallen.The severe weather threat may extend as far north as Washington,D.C.,and flooding may occur farther north than that.On the back side of the storm,wind speeds of up to 60 mph could be reached.
Update 2:By late Saturday,many areas were quieting down as the great spring storm pulled northwards.Tornado watches had been posted earlier as far north as Adams and York Counties in Pennsylvania,and there were at least 30 high water rescues,as well as flooded basements,from Mechanicsburg to Harrisburg in the Keystone State.In many cases,motorists ignored high water signs and drove right into the potentially deadly ponding,necessitating rescues by firefighters.
Scores improved at the Valero Texas Open on Saturday as the wind died down in the Texas hill country,with American Brendan Steele topping the field with a 3rd round seven under par 68.Defending champion Adam Scott of Australia was tied for 5th with two other Americans,having shot a four under par 70.

Thunder Prevail,Market Even

The Oklahoma City Thunder handled the Boston Celtics 89-84 Friday night before a very loud crowd at TD Garden in Boston.The Thunder couldn't make a basket as the game wound down,missing their last 14 shots,but their foul shooting was sharp.Russell Westbrook,who led the Thunder with 31 points,said that OKC also defended like they did all last year,and so they closed down the game.Kevin Garnett scored 16 points for Boston.
Brisk conditions brace the Northern Plains like the OKC defense this weekend.Bismarck will be 21F Saturday,and Billings will have a high of 19,with snow in both locations,as well as in the Sierra Nevada range.Seattle could see snow Saturday night,and snow showers may brush the Northeast.
After falling off a cliff,the market managed to recover its equilibrium this week,closing on a flat note for the week,with the S&P up 0.04.Worries about European debt had resurfaced,and China took measures to cool off its economy,constraining any progress traders had hoped to achieve.
Positive manufacturing numbers from the Mid-Atlantic region helped the market end on an even keel.Hewlett Packard's earnings report after the closing bell on Monday is an early milestone for next week's action.The S&P futures were up 0.50 this evening,and bond futures were in the green as well.
Hewlett Packard(HPQ)