view transcript

Katherine Ross: Kenny Polcari's back on the floor. Kenny, I gotta ask. You've got big consumer names such as McDonald's reporting next week. So what do you expect to see from consumer facing names?

Kenny Polcari: I think the consumers names are going to do okay. I'm actually very comfortable with it. So far we've seen really blow out earnings in the sense of it about 81% of reported companies that have reported already have beat their numbers and actually provided better guidance, which is kind of what's kept us here towards the highs of the market. I think as we go into the weekend, the market's just kind of taken a little bit of a breather. You know, it's trying to digest a good earnings. It's getting ready for what's gonna happen in the next two weeks. Although the consumer names I think are good. I think the consumer is strong.

Katherine Ross: Let's start with the economy. You've got the federal reserve meeting in a couple of weeks. What data points are you watching leading up to that reserve meeting?

Kenny Polcari: Well, listen, for the next three weeks, it's going to really be all about earnings. Right now, all the macro data points that we typically get, you're gonna watch and you're gonna pay attention to, but really investors are gonna focus on the micro data, which is now all about earnings and really the forward guidance, right? Now, if the macro data comes out and really misses, then they'll start to pay attention to that. But I don't think it's going to happen because we all know the fed is gonna cut rates at the end of the month. October 30th is when the FOMC meeting is. And so we fully expect and the market expects that the fed is going to cut rates, and when the fed cuts rates, they really put a floor under the market. So while I think the market could pull back, I don't think we're going to get a correction as yet. I still think as we move through earnings season at the market's going to tease a little bit. Tease a little bit lower, but then move in, moving back to the highs by year end.

Katherine Ross: All right, Kenny, thank you for joining us.

Kenny Polcari: You are very welcome. Thank you for having me.

Let's tackle earnings season. 

Kenny Polcari, SlateStone Wealth senior market strategist, was back on the floor of the NYSE Friday.

Polcari weighed in on what he expects from stocks with a heavy focus on the consumer--such a McDonald's (MCD - Get Report) , which reports next week. 

"I think the consumer names are going to do okay. I'm actually very comfortable with it. So far we've seen really blow out earnings in the sense of it about 81% of reported companies that have reported already have beat their numbers and actually provided better guidance, which is kind of what's kept us here towards the highs of the market. I think as we go into the weekend, the market's just kind of taken a little bit of a breather. You know, it's trying to digest good earnings. It's getting ready for what's gonna happen in the next two weeks. Although the consumer names I think are good. I think the consumer is strong," said Polcari. 

Polcari also weighed in on what investors should be watching ahead of the Federal Reserve meeting later this month. 

Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM

Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud

Catch Up: Today's Top News Videos Below