Barry Hyman
Barry Hyman
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We've accepted the fact that the earnings growth for the quarter is around 20, 21 percent year-over-year for the S&P. But there's been this behind the scenes look or under the surface look at revenue. And we haven't got the best of forecasts for the second half of the year in many companies going forward. And if you don't have that pristine look -- where you come in this earnings season totally clean -- you've gotten battered. And I can't even name more than a handful of stocks that have come through.
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Overall the earnings seem to be coming in a little better than expected, but the news has been the lackluster going-forward look in high-profile names in tech and finance.
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The PPI number on Friday gave us a little bit of a hint that there most likely will be a hike on August 24th, but that'll be it,
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When you have a major company like GE boosting its dividend and announcing a big buyback, that's very positive for corporate America,
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Without having that constant barrage of negative news, there is the opportunity for the market to exhibit some strength.
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Trying to pick a trend in this market is impossible. Friday's action was anemic, and today there's anticipation of a stronger earnings season. Other than short-term traders, it's hard to negotiate a market that is so narrow in range. We're at least stable for now, but there hasn't been a trend for over a month.
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With an expected quarter percent rise, the commentary seems a little more hawkish than expected.
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You have to ignore that because they're of course going to be bad, ... You have to look at earnings potential, and cyclicality stocks, I'll go for International Paper.
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You have a market on eggshells. The stories that make the rounds are being treated as sell first and then worry about whether they're true.
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You have to be careful. There are not many sectors that are doing well out there. This is a slowing economy. People are looking for security of earnings. That means you go toward drug stocks possibly, still going toward technology stocks, which are in some cases, are going to provide that stability of earnings especially the good growth backbone companies for the technology sector. Avoid cyclical stocks, avoid retail stocks. Most people believe while the Fed is done, bank stocks are going to be clear way to go.
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Better-than-expected LEI implies a strong economy. It also implies higher interest rates.
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Even though it's a tough environment for travel related stocks, the catalyst for American Express is going to be the ruling against Visa and MasterCard. It's a very significant positive.
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Either you believe the markets or so don't believe the markets. There's no in-between here. The bulls are very vigorous and the bears are very vigorous.
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Either people are going to reposition away from technology and seek a home in the migration away from technology, which is why you have other sectors moving. For those who are tech players, it's going to leave those stocks that may have some concerns over future earnings and it's going to stay there.