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Market Bellwethers to Watch: Pros

Monday, 8 Jul 2013 | 5:34 PM ET
Market Bellwethers to Watch: Pros
The "Fast Money" experts reveal which companies' quarterly earnings they're looking to for clues as to where the market is headed.

Two stocks will foreshadow what will happen in the third quarter of 2013, Josh Brown of Fusion Analytics said Monday.

"The bellwethers in my mind for this quarter: JPMorgan, and I also want to hear what Caterpillar has to say, not necessarily on backward-looking results, but second-half projections globally," he said. "JP is important because they play virtually everywhere in the U.S. economy. They've got important things to say from consumer confidence to the mortgage business to capital markets."

On CNBC's "Fast Money," Brown said that from Caterpillar he wanted to hear that "China is not slipping into the abyss."

Brown was also looking for quarterly earnings guidance from Deere and Wells Fargo.

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The Fast Money crew have the play on Lennar and home builders.

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Karen Finerman of Metropolitan Capital Advisors also said that JPMorgan was an important company to heed.

"We won't get the full effects of the potential back-up in rates and what that's done to the housing market because that happened the last week of May," she added.

Macy's and Foot Locker were also on Finerman's radar.

Tim Seymour of EmergingMoney.com picked another industrial name for the best clues to the third quarter.

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"I'm looking at GE," he said. "And this is, to me, the company that's in every part of the global economy."

Trader disclosure: On July 8, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long BAC; Tim Seymour is long AAPL; Pete Najarian is long AAPL; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long FITB; Pete Najarian is long BBRY; Josh Brown is long AAPL; Josh Brown is long KBE; Josh Brown is long F; Josh Brown is long XLU; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long MSFT; Karen Finerman is long M; Karen Finerman is long SPY; Karen Finerman is long MDY PUTS.

  Price   Change %Change
JPM
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CAT
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DE
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WFC
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M
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FL
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GE
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  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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