Michael Wursthorn

speaker

1,567 appearances 29 recordings 1 series first heard Jul 2017 last heard Nov 2021

Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Bank Earnings, Fed Minutes On Tap · 5 Apr 2019 podcast

weakening in the job market that we're facing right now. matched

And that's the big question for investors is how long can this hot job market really last? matched

We don't really know that yet. matched

And this jobs number doesn't really give people the sense of whether or not that this is something that's running out of steam or we're just sort of continuing along. matched

Investors are very much priced in the optimistic trade scenario, even though all these discussions are still going on. matched

There hasn't been a lot of updates. matched

But with the way the White House is framing it, investors are very much willing to look at the fact that a deal is going to come. matched

So that is another issue for the market at any point, that if there is going to be a sign that there isn't going to be a trade deal, that's going to take the market to step back. matched

But right now, the market is pricing that factor in at the moment and is helping with the recent gains that we've seen. matched

The S&P 500 is at its best start right now since 1998. matched

So for investors, there is this constant feeling of concern and fear that this could all end. matched

I mean, it wasn't just that long ago that January 2018 markets were up double digits. matched

And then over the course of several weeks, almost all of that was wiped out. matched

So the markets can move quickly. matched

And this has been a very incredible recovery since that December 24th low when the markets were really tested. matched

So there is a wariness on the part of investors that we are possibly facing some massive bout of volatility because the gains may not be sustainable longer term, especially as we get into earnings. matched

The big test for earnings is going to be how bad is the first quarter? matched

So first quarter earnings growth for the S&P 500 is expecting to clock in around negative 4%. matched

So that's a 4% drop in profit growth from the year earlier quarter. matched

That's the first negative quarter of growth since 2016. matched

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