Stocks push higher; El-Erian on the Fed; Amazon & Microsoft earnings after hours

Stocks fight for gains as tech and energy lead the way. Will big after-hours earnings reports lead us higher tomorrow?

Microsoft and Amazon

David Garrity of GVA Research broke down the big earnings after the bell, with Amazon disappointing and Microsoft pushing higher in after-hours trading.

Bull Market long in the tooth?

US stock indices have soared over 150% since the beginning of this bull market, but could the gains soon come to an end? Yahoo Finance's Justine Underhill has a closer look at the charts.

Mohamed El-Erian on the Fed and Markets

The Fed increased its benchmark interest rate last month for the first time in almost a decade. But was this move too little to late? Mohamed El-Erian, author of the new book "The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse," gave us his take on central bank action and where investors should go in this market.

Winners and losers

Stocks on the move lower include JetBlue on earnings, biotech giant Celgene, and eBay—the world's largest online auction site tumbling after guidance for the current year fell short of street estimates.

Shares that finished in the green include Caterpillar, eBay spinoff PayPal, and Under Armour—the athletic-wear maker can't be stopped, with stocks soaring after beating on earnings and issuing guidance that topped analysts' expectations. Under Armour reported growth in both its apparel and its shoe lines.

Looking ahead

• We've got a big one in the morning—the first reading of fourth-quarter GDP. Economists are looking for a reading of 0.9%, which would be down from 2.0% last quarter.

• We'll get another gauge on the economy, with the University of Michigan Consumer Sentiment Index for January. The Street is looking for a consensus of 93.

• And earnings season continues with reports from Chevron, Colgate-Palmolive, and MasterCard.