World Economy

Drag on Earnings

Drag on EarningsDrag on Earnings

Plunging commodities and a stronger US dollar’s drag on earnings held stocks down this week, and investors may want to look elsewhere if the trends continue, independent investment consultant David Darst said, CNBC reported. The major averages slipped more than 2% this week, as the Dow Jones industrial average fell nearly 3%. Investors overlooked some strong economic data, including jobless claims and existing home sales, as commodities and currency drove selling this week, Darst noted. “I think the markets are willing to overlook and they’re downplaying lead economic indicators being strong this month,” he said in a CNBC’s “Closing Bell” interview.