Third Quarter Earnings Likely to Move Equity Markets, Strategist Says

Corporate earnings traditionally dictate where the stock market goes, but oil, central banks and global factors have taken center stage so far this year. But Craig Erlam, sr. market analyst at Oanda, based in London thinks investors are anxious for an earnings rebound. "I think people want to start seeing earnings growth again. We've had five consecutive quarters of declining earnings growth," he said, adding that improving earnings would help to confirm the Federal Reserve's indications that the economy is gaining steam. Erlam said the markets are also factoring in the upcoming U.S. presidential election and potential fallout from the UK's ongoing withdrawal from the European Union. TheStreet's Scott Gamm reports from Wall Street.