Dan Celia: Upcoming Earnings Reports Will Be Telling

Dan Celia: Upcoming Earnings Reports Will Be Telling

April 20, 2020

PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is looking at earnings reports that will continue this week. Eighty S&P companies will not give forward guidance, and Celia expects more will be added to that list.

“We can almost guarantee negative growth on the year,” Celia said. “We will be fortunate if it stays below a negative 10%. Bankruptcies, reorganizations and defaults should be our biggest worry. A COVID-19 vaccine or treatment will slow that down, but from an economic perspective, it will be very difficult to pick up the economy in a dramatic way since so much damage has already been done. We have to give consideration to how long it will take to see ramped-up economic activity when we do get back to work. Also, we will have a number of consumers who may have taken on some debt in order to try to stay on their feet; they will not be ready to take a collective sigh of relief when this is over. So if the pickup doesn’t happen very soon—getting consumer spending on goods and services to the level in which they were before all this started—it will be difficult.

“I have said this before,” Celia added, “the Federal Reserve has done an amazing job keeping America on its feet and has kept us from deeper trouble. But we could see a time now that the Federal Reserve, since it is buying high-yield bonds, could be forced to pick winners and losers when it comes to bond defaults, and that will add a whole different aspect of hazards and unintended consequences.”

Celia discusses these and other global and economic headlines on his daily, three-hour Financial Issues program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.

Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.

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To book Financial Issues Stewardship Ministries’ Dan Celia, contact Media@HamiltonStrategies.com or Patrick Benner, 610.584.1096, ext. 104, or Deborah Hamilton, ext. 102.