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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