Bespoke Investment Group's Paul Hickey expects stocks to buck a bearish earnings season pattern that emerged earlier this year.
Each time the backdrop supported upside, sell-offs ravaged the market due to the U.S.-China trade war, the firm's co-founder said. "In the first say four weeks of both of those earnings seasons, the market did very well and was trading higher," Hickey told CNBC's "" on Wednesday. "The rally was derailed not because of some weak earnings reports, but because President Trump issued tweets and suggesting ... an escalation of the trade war."
Hickey tracks the trouble in a chart showing trade-related S&P 500 sell-offs during the past two earnings seasons."We have a temporary reprieve from the trade headlines here for the coming weeks," said Hickey. "We had the constant back and forth and the phase one agreement. And, as light as you want to call it, we did get passed that big event, and the market has held up well.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
TradingNation Buy, Buy Buy!!! jimcramer
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hedge fund manager Cooperman says the stock market would drop 25% if Elizabeth Warren is electedBillionaire investor Leon Cooperman spoke with CNBC's 'Squawk Box' on Wednesday. So what? Like* Here we go again. More political rants and raves. Wtf. How about stock talk. Your line mtv that doesn’t show video’s anymore.
Source: CNBC - 🏆 12. / 72 Read more »
Stock picks, investing strategy from market-beating Invesco manager - Business InsiderA fund manager who's averaged a 16% annual return since the financial crisis shares his 'secret weapon' — and unpacks 3 stocks driving his success
Source: BusinessInsider - 🏆 729. / 51 Read more »
Goldman Profit Drops 26% as Market WobblesGoldman Sachs Group’s third-quarter profit fell 26% from a year ago, hit by a slowdown in deal-making and losses on the bank’s stakes in companies. He looks like Mattis but bald. Never mind ! GS will still be on every financial network, doing infomercials as if they are the only ones with the “ facts “.
Source: WSJ - 🏆 98. / 63 Read more »
Market Should Open Higher As Bank Earnings Open StrongPositive results are despite the latest Fed rate cut.
Source: Forbes - 🏆 394. / 53 Read more »
Google share of search ad market high but shrinking: eMarketerAlphabet Inc's Google dominates the growing U.S. search ad market but Amazo... Economy going down, recession coming... Google CPC is too expensive compared to e.g., Facebook.
Source: Reuters - 🏆 2. / 97 Read more »
Adidas and Nike supply tactics are an abuse of market dominance, British retail giant saysThe sales and supply strategies of big sports brands such as Adidas and Nike should face government investigations, U.K. retail giant Sports Direct claimed.
Source: CNBC - 🏆 12. / 72 Read more »