Morning Stock Talk - Awad: A day for hope, not hype

"The consensus on Wall Street remains, naively in my opinion, that the economy is going to turn in the third quarter and that the markets will go up before that in anticipation of that." But Jim Awad, managing director at Zephyr Management, tells Andrew O'Day "the economic stilts are very weak. So people are frankly irresponsible if they invest other people's money based on a quick turn in the economy." Awad adds "you cannot make a bottom in the economy or the financial markets until you have confidence in the major financial players, and that is lacking."

Download this Podcast (Duration: 00:07:32, Format: *.MP3)

Dow Jones' MarketWatch Morning Stock Talk discusses the big stock movers, economic data and investment trends with Wall Street's top analysts, strategists and traders. Hear about what's driving the stock market from those in the know..