Scott Krisiloff, CFA, is the CEO of Avondale Asset Management, an independent investment advisory firm located in Los Angeles. Krisiloff is the author of the firm's blog, Company Notes.
Earnings season is over, but September is a busy month for conferences. Those companies presenting at conferences last week tended to have relatively upbeat things to say about the economy. Will positive commentary outweigh soft economic data when the US Federal Reserve meets in September? No one at the Fed has ruled out a rate hike quite yet.
The dog days of summer continue to see sluggish economic growth, with the longed-for rebound slow to materialize. It is difficult to imagine any acceleration in growth rates without inflation, says Scott Krisiloff, CFA, in his latest roundup from the C-suite.
There were signs that inventories have been sufficiently depleted, and that industry is cautiously beginning to restock again. However, Scott Krisiloff, CFA, cautions, if inventories are restocked and demand doesn't concurrently rebound, companies will shortly find themselves in a precarious position once again.
Department stores don't provide the same read on the economy as they did in the past, but, overall, activity is still depressed, says Scott Krisiloff, CFA. Yet there are signs of a possible upturn. And while the presidential election has been a source of uncertainty, the polls may be starting to give an indication of who is likely to win without having to wait until Election Day.
For the next few weeks, we will be in the slowest part of the earnings cycle, but some companies are speaking here and there. Among the newsworthy items from last week: CarMax saw weakness among subprime auto borrowers, homebuilders are positive, and the oil industry sees a bottom and a slow recovery.
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