Analysts Are Too Optimistic On Earnings: Strategist

11:30 AM ET Thu, 12 July 2012

"I think we have a deteriorating global macro environment, while all this is happening we are seeing second quarter earnings revised down, but what's really troubling is if we look into the fourth quarter the street is still looking for 13.8 percent earnings growth," Alec Young, global equity strategist at S&P Capital IQ, told CNBC.