First-quarter corporate earnings will likely prove sluggish, but they should drag on stock markets only briefly, said one analyst Friday.
"The good news is they probably don't get a lot worse than they are right now and the comparisons may actually get better," John Manley, chief equity strategist at Wells Fargo Fund Management, said in a CNBC "Power Lunch" interview. "I think that's important to remember because I think the market tends to look forward in these things," he said.
A strong dollar and cheap crude oil's effect on the energy sector have raised concerns about weak U.S. first-quarter earnings. The concerns mounted Friday when the Commerce Department estimated that after-tax corporate profits fell by 1.6 percent in the fourth quarter of last year.