Akane Otani

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1,333 appearances 33 recordings 1 series first heard Aug 2017 last heard Mar 2023

Akane Otani’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Another Steep Selloff, With Earnings on Deck · 11 Oct 2018 podcast

And then I think there's the sense that stocks were maybe a little bit overextended heading into October.

September has historically been a weak period for the U.S.

stock market, but we actually saw a number of major indexes hit new highs.

And so a lot of investors were saying, you know, after a long period of outperformance, it might have just been sort of overdue for some kind of pullback.

So, so far, we've been lucky in that corporate earnings have continued to come in strong.

But I think that is a growing fear, and that's something that investors will be very closely watching as the third quarter earnings season kicks off this Friday, because companies have started mentioning tariffs a bit more and saying that,

The tariffs are pushing up their cost of production.

And that, in turn, can, some people fear, drive up inflation, which then brings us back to this whole problem that investors have been wrestling with throughout the year is if inflation is going to force the Fed's hand.

So the tariffs are definitely another element of uncertainty that's adding some stress to the markets right now.

I think it's fair to say traders are bracing for more volatility rather than the opposite scenario.

Corporate earnings season can always be a little bit of a tricky period because we have all these results coming in.

What the banks say will certainly set investors' expectations and sort of set the tone as we head into the rest of the third quarter reporting season.

And also, we'll be in the middle of a blackout period for corporate buybacks.

And corporations have traditionally been one of the biggest sources of buyers for the U.S.

stock market.

So if these companies are not able to buy back their shares during the earnings reporting season, that sort of removes another level of support for the market.

Yeah, it depends, you know, sort of where in the day we were looking at.

But at one point, we were looking at certainly the worst week since February, then at other points, potentially the worst week since 2016 for a number of major indexes around the world.

So definitely, this is one of the more severe pullbacks that we've seen in quite some time.

I think so.

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