As Wall Street heads to its second half of the year, what's the one thing investors should keep their eye on?
Chris Versace, Real Moneycontributor and co-manager of the Trifecta Stocks portfolio and Stocks Under $10, shares his thoughts on the floor of the New York Stock Exchange.
Here's an excerpt from the video transcript:
"The big story is going to be earning season, we're right at the cusp of it ...The set up for this is earnings expectations for the S&P 500 is about 10% improvement, second half of the year versus first half, but first quarter, second quarter, and now third quarter of 2019 have negative comparisons. That means there's a lot of pressure on the December quarter," Versace said.
He continued, "I think that's a lot of uncertainty when companies are going to be issuing expectations for the back half of the year. That's a long way of saying, I think that 10% expectation, second half first half is rich. It has to come down. So it could be a very bumpy earnings season."
Watch the video above to hear the full clip.