The market is now factoring in that first-quarter earnings will likely be below consensus. And the reality is that economic growth is probably going to be between 3.5 percent and 4 percent, which is good but maybe not as strong as what some people were hoping for.
More Quotes from Subodh Kumar:
If you put together a ruling in favor of one of the largest industrial sectors in the U.S. and positive news on large companies, such as GM, it's not a surprise to see the market up today.Subodh Kumar
The market is showing the classic signs of the beginning of a cycle, a new bull market.
Subodh Kumar
I don't buy the Wall Street argument that capital spending won't come back anytime soon because of overcapacity.
Subodh Kumar
Usually, the groups under stress bounce the most at a bottom since they would benefit the most when the economy improves,
Subodh Kumar
The main focus today is the Fed. After the decision, investors will once again focus on the fundamentals of the U.S. economy and on company earnings.
Subodh Kumar
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