WSJ: "Stocks Face Jobs Report After Hitting Records"

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WSJ: "Stocks Face Jobs Report After Hitting Records"

Excerpt from the Wall Street Journal quoting DataTrek’s Nick Colas:

….”The Fed is also likely to overshadow second-quarter earnings reports, which will begin to flow in mid-July.

Analysts are forecasting aggregate earnings for the S&P 500 will come in slightly below last year’s second-quarter level, which provides room for a positive surprise, said Nicholas Colas, co-founder of DataTrek Research, in a recent research note. That, combined with an easier Fed, could propel stocks even higher.

“Unless we see a dramatic shift in earnings expectations—and that rarely happens outside of a geopolitical shock that causes a recession—the direction of interest rates will determine the direction of equity prices,” Mr. Colas wrote”….

Read the full article here in the WSJ!