NYSE View from the Floor: Consumer Discretionary Sector Sees Gains as Oil Treads Water

NEW YORK - Feb. 2, 2016 - PRLog -- Asset TV’s Courtney Woodworth joined Matthew Cheslock, equity trader for Virtu Financial, at the New York Stock Exchange this past Friday to discuss the latest news in the midst of Q4 earnings.

According to Matthew Cheslock, the Consumer Discretionary sector of the economy is one area where economists are looking for significant growth, however, the type of business will continue to be a major determining factor.  Under Armour posted significant earnings last week with consumers spending a lot on footwear and active wear, while Amazon, despite having a blowout revenue number, missed on the bottom line.

“One thing we’re looking at as far as traders go is the premium that’s placed the day before the earnings,” explains Matthew Cheslock.  “Amazon was up big before the earnings on expectations, and they disappointed, and now they’re paying for it today…you have to be careful going in.  If you want to trade it the next day as a trader, you probably don’t want to be in it before the earnings are actually released.”

When it comes to other sectors, energy has seen a boost over the last few days.  While traders were worried about the suspension of dividends in oil and oil services, some of the major oil companies stated their first priority is not to suspend dividends.  “Those are companies that have a huge risk/reward,” Matthew commented.  “So if you’re willing to play them and willing to endure a little bit of pain maybe in the short term, longer term prospects are pretty good.”

To watch this interview and other weekly updates from the New York Stock Exchange with Courtney Woodworth, stay tuned to Asset TV’s NYSE View from the Floor channel page: http://bit.ly/20mV3TI