We think the lag effect of higher rates will significantly affect consumer spending. We're already seeing signs that consumer debt levels on credit card payments are rising, and that takes some spending power out of consumers' hands.
More Quotes from Ken Perkins:
The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,Ken Perkins
We don't have an opinion or more importantly a vote one way or another. We're not thrilled with it ... but it's essentially up to the analysts.
Ken Perkins
April comps will reap the benefits of Easter holiday sales. But as usually is the case with March and April, it's best to view the two months on a combined basis. Retailers find themselves against a stiff 7.1 percent gain a year ago.
Ken Perkins
That's a pretty long stretch, and investors are concerned that earnings could take a hit unless sales improve.
Ken Perkins
We are going to see the effect of higher energy prices trickle up to the middle-income consumers.
Ken Perkins
That's well above the long term average of 54 percent beating and 42 percent falling short of expectations.
Ken Perkins
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