Does The Economy Matter? Response to Today’s (Fri) GDP Number Will Be Instructive

At 8:30am EST, or about 5 hours from now, the Commerce Department will make its first stab at reporting 1st quarter Real GDP.  Economists are estimating a measly 1.8% growth.  In his “Ahead of The Tape” column from today’s (Fri 4/27) Wall Street Journal, “Heady Stocks Leave Economy On the Ground” (subscription required), Justin Lahart wonders how long this stock market/economy disconnect can persist:

Many US companies with operations abroad are benefitting from strong economic growth overseas; that’s helped to soften the earnings slowdown.  But it would be hard to believe the stock market has divorced itself from the US economy.