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.
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