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Birinyi: Earnings Outdo Inflation, Energy Prices When Sizing Up Stocks

Thursday, 5 Apr 2007 | 4:33 PM ET

Laszlo Birinyi Jr., president, Birinyi Associates, told CNBC’s “Closing Bell” that earnings are more important than inflation or energy prices when sizing up stocks.

Afternoon Market Update
Discussing why bad news for the economy is good news for the markets, with CNBC's Mary Thompson; Laszlo Birinyi Jr., Birinyi president associates and CNBC's Dylan Ratigan

“We’ve done a lot of studies on market cycles and were surprised how much more important earnings are than, say, interest rates,” Birinyi said Thursday. “It’s not necessarily the earnings per se, but expected earnings.”

However, he said a downbeat earnings forecast shouldn’t spike interest in equities.

“I’m not terribly disappointed by the fact that most people are looking for a slowdown in earnings because that should be factored into the market,” he said.

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  • With almost 30 years experience in business television, Bill Griffeth is co-anchor of the 3 p.m. ET hour of CNBC's "Closing Bell."

  • Kelly Evans

    Kelly Evans is an on-air correspondent, reporting across CNBC's business day programming. She is co-anchor of CNBC's "Squawk on the Street."