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With market fully valued, this earnings season is crucial: Strategist

  • For the market to keep grinding higher, there needs to be economic growth in the U.S. and overseas, Prudential Financial's Quincy Krosby said.

This earnings season is "crucial" for the market, Prudential Financial's chief market strategist, Quincy Krosby, told CNBC on Monday.

"You've got a market that is fully valued at this point and in order to keep grinding higher you've got to underpin it with economic growth here and overseas," she said in an interview with "Closing Bell."

Earnings season kicked off last week with names like JPMorgan Chase and Citigroup among those releasing third-quarter results. The market posted slight gains last week and reached records.

On Monday, equities once again hit record highs ahead of Netflix's earnings. After the bell, the video streaming giant announced it added 5.3 million net subscribers, beating analyst expectations. Netflix shares were up about 1.1 percent in after-hours trading.

In looking at the season overall, Krosby said she wants to see positive guidance and revenue growth this season.

"That top line is very important for the market because that really is the indication for demand — demand for that company, demand for the sector and it is both global and domestic."

This week names like Goldman Sachs, Morgan Stanley and Verizon are set to report.

— CNBC's Fred Imbert contributed to this report.

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