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Bank Earnings to Set the Tone for Stocks
12 Apr 2012 EDT - CNBC.com
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Earnings from J.P. Morgan Chase and Wells Fargo could help set the course for stocks Friday, as markets head to the finish line of a volatile week.

Investors, however, will also be reacting to the overnight data from China and the follow-through from Google’s late Thursday earnings news.

Federal Reserveofficials, active every day this past week, will continue to be a factor Friday as Fed Chairman Ben Bernanke speaks at 1 p.m. on lessons learned from the financial crisis at a conference in New York. There are also a couple pieces of U.S. data, including CPI at 8:30 a.m. ET and consumer sentiment, at 9:55 a.m. ET.

Google late Thursday reported a profit of $10.08 per share , excluding stock-based compensation, compared to $8.08 a year earlier. The company also announced it was creating a new class of non-voting stock that would trade on the Nasdaq and be distributed to shareholders on a one-for-one basis. Google shares gained in the after-hours session.

J.P. Morgan is expected to earn $1.14 per share on $24.4 billion, while Wells Fargo is expected to earn $0.73 per share on revenues of $20.4 billion. (Read More: JPM, WFC the Banks to Beat )

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