Trade Disputes Could Muddy Q2 Earnings Reports

Art Cashin, UBS Director of Floor Operations, visited with the CNBC crew on last Tuesday’s short trading day to discuss forthcoming second quarter earnings reports by a number of companies in the next week, such as Bank of America who is forecasting a 22 percent earnings growth projection.

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Points discussed during the interview:

  • The mindsets of traders are on next week when a flurry of second quarter earnings reports will be released
  • Friday will also be a focus of trades as jobs reports will be released–possible market spurt around the jobs report
  • NAFTA trade concerns continue to drag the market down
  • Companies are distracted by the tariff-for-tariff battles going on despite solid fundamentals in the U.S. economy
  • The European economy is not functioning as well as the U.S. economy
  • Volatility could be building up with geopolitics–possibility of a trade war
  • Surge in oil prices up and then down–confusion regarding the Iranian sanctions

‘Let’s hope the economy doesn’t turn the wrong way,’ Art Cashin from CNBC.

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