Earnings season is just around the corner, and the market has already seen profit warnings from multinationals like FedEx and Intel. Norfolk Southern, which transports coal and other goods around the country, also warned.
With the global economy slowing and the U.S. dollar strengthening it may now be time to invest in companies more tied to the U.S. economy, some market pros are saying. (Read More:FedEx Says Economy Is Worsening, Cuts Outlook.)
Richard Bernstein, CEO of Richard Bernstein Advisors, told CNBC, the multinationals that were everyone’s favorite stocks from six or 12 months ago are the ones disappointing today because “the dollar has appreciated and global growth is slowing.”