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S&P Capital IQ's Richard Peterson On S&P 500 Leaders (MHFI)

Richard Peterson, director of global markets intelligence at S&P Capital IQ (NYSE: MHFI) sees some sectors of the S&P 500, such as financials, leading the pack in growth, while other sectors like energy are struggling with growth.

Peterson provided insight into this on CNBC's Squawk Box Tuesday morning.

Without financials, expectations have gotten worse, opposed to better, even through we've seen them move from three percent to 4.5 percent since April 8. Ex-financials were up 0.81 percent and are now at 0.4 percent, Peterson said.

"In fact, only three sectors in the S&P 500 have seen improvements in growth expectations over that period, those being financials, consumer discretionary, and health care. The others have seen, really, a decline in expectations for growth," Peterson said.

Related: Analyst Sees Tough Road Ahead For Fidelity Sector ETFs

According to Peterson, the other story is the decline in revenues.

"Right now we're seeing about a 0.6 percent decline in revenues for the second quarter. That's really being dragged by energy and materials," said Peterson.

As for the economy, Peterson cited that many companies having good profits and too much cash on their balance sheets as something that could be holding back the employment rate, because these companies don't see a need to hire while doing so well without the additional employees.

Posted-In: CNBCCNBC Earnings News Futures Hot Markets Media Best of Benzinga

 

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