Art Hogan Earn Quotations

We've sort of gotten through the meat of earnings season, and we're going to start focusing on the state of the economy.

We've shifted focus here. It's been earnings, earnings, earnings all week, now its the economic reports, ... Unfortunately, it's a mixed bag and the biggest surprise was the GDP reading.

We have extremely large concerns about inflation, high interest rates and high energy prices, ... There is great concern that we don't know how much earnings growth will decelerate over the next two quarters.

If you've put together a wish list to buy stocks, there are some great bargains out there. The include quality names, those that remember to bring that top line revenues down the bottom line in the form of earnings -- that's going to be the key.

We should shrug this off and realize that this is the best fourth-quarter earnings we've seen in years,

We've been able to handle a lackluster earnings season so far. Energy companies haven't really come into the fray yet, so things may look a little better after they report. Another positive is that we're backing off a bit from the high price of oil.

We have just digested so much news in the last week or so, ... Fourth-quarter earnings have been much better than expected, but you have people reluctant to make big bets ahead of things like the payroll report Friday, or the G7 meeting, which will be important for the dollar.

With declines three days in a row, you know it must be earnings season,

The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical.

I think earnings season will be one of the catalysts to get money in off the sidelines and the other will be the Fed's ongoing ability to push down interest rates,

I think the fact that we had this awful bombing ... and yet the market seems to be moving on, that it's starting to become sort of priced into the marketplace. We may get investors to get back in off the sidelines at some juncture as we start to get earnings reports for the quarter.

The second quarter is lining up to be another good quarter but people are looking ahead to the third and fourth quarters. Barring any major upsets on the earnings calendar I'd say the market is pretty range bound.

The price of oil is acting as a natural drag on the U.S. economy and the global economy. It creates a great deal of investor uncertainty, ... as earnings reports start coming in, it's going to be what companies tell us about the next three quarters that determines if investors get off the sidelines.

In the earnings pre-reporting season, the companies that alarmed us so much were tech and telecom, ... We still have earnings jitters and nervousness about revenue growth. I think people feel there is more value in the Dow, which has been hanging in there, so that's where the flight to quality comes in.

We need a significant catalyst. Whether it be great second-quarter earnings or blowout economic data or some marquee firms coming out with a mid-second-quarter preview.

It's earnings pre-reporting season, ... I'm guessing that a lot of the worst is behind us is going to come out in commentary. Unfortunately it is going to follow numbers that are just as bad as the first quarter.

The global reaction to this is more of a psychological response than a rational one. People wake up and read whatever wire service they're going to read and realize that one of the major Asian markets was down by up to 6 percent overnight, and there are a number of tech earnings disappointments and it tends to cascade. Eventually you get a more rational response after people have time to come to terms with what is really happening.

The concern is about how much the economy picks up and how quickly that translates into earnings growth for corporate America.

We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-1/2-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.

We're seeing a nice handful of earnings today. That is going to be the driver. The other driver, or the thing that's not going to hold us back this quarter, and I would argue has held us back the last three quarters, is the consensus is the Fed is done for the year, ... We don't have a credit tightening cycle to go through and we're seeing terrific earnings. So I would argue that the focus returns now to earnings growth, revenue growth, the strength of corporate America and not necessarily the macro-economic themes like monetary policy which have been on the forefront for the last couple of quarters.

We have to get used to the fact that the emergency level of the fed funds rate is behind us, ... The sooner we become cognizant of the fact that the global economy won't be crushed and corporate earnings won't roll over, the sooner the market will fight its way to trend higher.

Unfortunately, everyone else is guilty by association with Procter missing (its earnings estimates), and everyone worries about who else in the Dow will miss, ... I think it's a clear sign of investors' overreaction.

We're not getting a lot of companies that are doing cartwheels about the second half in terms of IT demand. In terms of where we stand, getting out of the second-quarter earnings reporting season, moving on with business as usual, is probably going to be a healthy thing.

Stay the course if you're a long-term investor. Don't buy stocks that don't have earnings - you need to be selective.

I think this can sustain for the next day or two, at least until we get to all the earning and economic news in the second half of the week, ... Right now, the path of least resistance is still to the upside.

I think that we just ran out of steam after a couple of hours. I am glad that we held on our gains from Friday. Oil will continue to be a driver, earnings will be a driver, and so will economics.

I think we're going through this natural vacuum in the news cycle where we have a quiet economic calendar and the fourth-quarter earnings reports are slowing down. It's difficult to generate any interest in the market.