Lowered GDP Expectations Push Stocks Into the Red Zone
Keith Bliss of Cuttone says economists have dialed back GDP expectations and he notes many of the Dow stocks that have reported earnings delivered negative sales growth.
March trade data was not high enough to give economists any confidence for the first quarter GDP. Keith Bliss of Cuttone points out economists at the big brokerages have begun dialing back GDP expectations. He also notes that 27 of the 30 Dow stocks have reported earnings and many delivered negative sales growth. This one-two punch has dragged down stocks on Tuesday. Bliss said rising imports have also contributed to the negative mood for stocks.
