Earnings season kicked off this week and investors are waiting to hear results from tech giant Intel after the closing bell today. How important are earnings to the markets? Ted Parrish, co-portfolio manager of Henssler Equity Fund, shared his view.
“What’s going to dominate the market over the next month or so is earnings season," Parrish told CNBC.
"The expectation for 2010 is that the earning cycle is really robust and if we can come through with those numbers, the market’s going to move higher,”
Going forward, Parrish said he is feeling optimistic on business spending, rebounding consumers and stabilization in the housing market.
“If you look at stocks on a 20-year average, they’re very cheap,” he said. “So the relative attractiveness of the market is really good and U.S. stocks are probably the cheapest asset class right now, and I think that bodes well for this year.”
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CNBC Data Pages:
Upcoming Big Earnings:
Bank of America
Parrish owns positions in GE, FLR, NOC, APA, MUR and BK.