What to Watch from Consumer-Heavy Stocks and the Federal Reserve

Video Credit: The Street
Published on October 18, 2019 - Duration: 01:33s

What to Watch from Consumer-Heavy Stocks and the Federal Reserve

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 , 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.

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