Earnings season kicks off this week, but before you get too excited and start clicking the buy button over what the next batch of quarterly results could mean for stocks, you might want to listen to what DataTrek Research’s Nicholas Colas has to say.
“This market has really been dominated by a rate narrative. Interest rates have come down materially over the course of the year [see our chart of the day for some perspective]. And, that has buffered stocks against some worries about earnings,” he told CNBC in an interview on Friday. “But once you have to face the actual earnings results, I think the story is going to change.”