Wall Street's Second Act: It Could Be a Very Bumpy Earnings Season
As Wall Street heads to its second half of the year, what's the one thing investors should keep their eye on?
Chris Versace, Real Money contributor and co-manager of the Trifecta Stocks portfolio and Stocks Under $10, shares his thoughts on the floor of the New York Stock Exchange.
Here's an excerpt from the video transcript: "The big story is going to be earning season, we're right at the cusp of it ...The set up for this is earnings expectations for the S&P 500 is about 10% improvement, second half of the year versus first half, but first quarter, second quarter, and now third quarter of 2019 have negative comparisons.
That means there's a lot of pressure on the December quarter," Versace said.
He continued, "I think that's a lot of uncertainty when companies are going to be issuing expectations for the back half of the year.
That's a long way of saying, I think that 10% expectation, second half first half is rich.
It has to come down.
So it could be a very bumpy earnings season." Watch the video above to hear the full clip.
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