You're watching...
Jay Pestrichelli of ZEGA Financial breaks down whether the market will be able to continue its rally this quarter.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
This morning so let's bring in first of all about the market.
MarketWatch.
I say it's got more to do with a -- around a new weakening in the US economy -- -- -- well.
-- and I I think Europe is a little bit of an excuse I think the market is wanted to trend down I think.
You know good news bad news the market has been driven down right when that we had good news in the thought of the QE3 was off the table the market when that we have bad news the market went down the market is just tending to go down are now however.
I think that earnings is gonna be able to change that we're seeing that this morning quite a bit now.
He you have to think about the US economy right we we get all that's expectations in the Q in Q1 ran up so quickly so fast.
Going to be tough to live up to those expectations up.
If we ton to do note to -- a lower rate of growth we with 3% in the last quarter of last year if we turned out to one and a half 2%.
Does the stock market get affected I think.
I think too is the mark to -- the market seems to drive people up or down that as far as our on GDP so 2% growth when we get a number is on the first quarter which is a couple weeks time and -- -- if we see it too.
We're going to be okay I think to a continuing.
We -- took up on tobacco industry's already -- one point 5% one half percent for the first quarter so.
Everyone's talking about the second second half of the year sort of ramping up but.
So that it and GDP notes talked about we had an amazing rally what the week is GDP growth in the last three years you know compared to other posts -- -- to recoveries.
It -- -- a backstop is still the Fed.
Well Jersey you know -- the market is a forward looking -- -- look six months and its primary and so I think the market was doing a lot of that it's looking cute story.
I think it has a lot of Q2 baked into it curriculum was so strong.
Right for earnings season to actually justify that run I think it's gonna be difficult but.
I don't think this means abandoned the long term US economy right I still think bonds are -- tough game to get into right they have their run interest rates are gonna be a challenge there.
Think the US economy is still the way of -- economies.
-- -- Without any more fed help I mean that's the big question can we do without the Fed anymore.
Not -- not at one and a half on a 2%.
Not at those levels thank you it is Sunday didn't agree with you do you think about the failings of the economy and the data.
It is all about that right now I would love her to be about the economy I would love I would love to get the -- out of it you know someone tried to pick stocks since they -- -- agree with the you know having to worry about a company would amazing fundamentals the stock getting hit.
Because of FOMC minutes suggested the Fed might not.
Play -- play ball anymore it's crazy it's frustrating it's a tough game turn it expects the index in this environment for sure time will be watching the Q1 number -- -- -- firsthand alright.
Check mr.
Charlie thanks for joining us is always -- --
