It's now all about how companies will be performing next quarter, Pado said.
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In other words, they are very well positioned for the worst case scenario, Pado said.
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We're just getting a correction in a very broad advance in the price of oil, Pado said.
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Sic Venetus stagnante Pado, fusoque Britannus Navigat oceano, sic cum tenet omnia Nilus, Conseritur bibula Memphitis cymbo papyro.
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That is the better picture to look at, said Marc Pado, U.S. market strategist at Cantor Fitzgerald & Co. in San Francisco.
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Cantor Fitzgerald market strategist Marc Pado says lean inventories at U.S. companies and an oversold market offer hope of "a pleasant surprise."
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Data from the Federal Reserve Bank of Philadelphia on Thursday could be an important indicator of consumer spending in the year's second half, Pado said.