Yesterday, in a rerunning of its markets-model forecast, it eased up on some of its U.S. optimism, pointing to stretched valuations in U.S. equities. Notably, U.S. growth stocks are now seen growing at a rate barely beating inflation expectations.

Wall Street's reliance on a small number of high market-value stocks to keep momentum going for the U.S. equities bull market will be tested in coming days as major technology and growth companies report earnings.

Friday marked another winning day for the S&P 500 and Nasdaq, as both indexes posted fresh all-time intraday and closing highs.

Current consensus predictions for Google's forthcoming earnings report anticipate $2.18 per share on revenues of $93.73 billion. This suggests growth in comparison to the same quarter last year, which reported earnings of $1.89 per share with revenues of $84.74 billion.

This article will be updated throughout the day, so check back often for more daily updates. The Vanguard S&P 500 ETF (NYSEMKT: VOO) is looking like it wants to hit a new all-time high today as shares rise 0.

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Futures for the Dow Jones Industrial Average and other major stock indexes traded higher Friday, as investors welcomed an upside surprise in economic data. Meanwhile, IntelINTC plunged on the stock market today after reporting second-quarter earnings.