U.S. Stocks Fall on Fed Minutes Amid Corporate Earnings – Bloomberg 02-21-13

Salient to Investors:

Tim Hartzell at Sequent Asset Mgmt said the Fed’s comments took a little excess out of the stock market as equities had gotten ahead of themselves in the belief there’s always going to be $85 billion come into the market from the Fed.

72 percent of the 427 S&P 500 so far reporting beat profit estimates, 65 percent beat sales estimates.

Neil Massa at John Hancock Asset Mgmt said investors are taking profits and waiting for the next catalyst – a healthy sell off and not a downtrend.

Russ Koesterich at BlackRock said volatility will likely increase with the March 1 deadline for automatic budget cuts, so investors with above benchmark US equities should reduce exposure, and be cautious of consumer stocks.

Read the full article at http://www.bloomberg.com/news/2013-02-21/u-s-stock-index-futures-fall-before-housing-jobs-data.html

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