Kenny Polcari, Slatestone Wealth's chief market strategist, joins Brad Smith and Seana Smith to explain how he's setting up his expectations for third quarter earnings.

Polcari explains that as companies begin to report their quarterly results, he’ll focus on the outlook rather than the earnings themselves: “I'm not so worried about what the earnings are today because the earnings are basically history, right? They've already happened. It's done. It's really what they say going forward and how they're going to present the next four to six months [that matters]."

The strategist says he expects investors will hear more "muted guidance" and that he is “a little bit concerned that you're going to start to hear more cautiousness. I don't think you're going to hear disaster, but I think you're going to hear more cautiousness coming from CEOs as they try to rein in expectations for next year because they are concerned.”

“They're concerned about where the economy is going. They're concerned about what happens after the presidential election. Depending on who gets in, that's going to dictate policy, and then that's ultimately going to dictate how consumers react. So I think you have to listen carefully to how they're positioning themselves.”

Ultimately, Polcari says he is "playing it more on the safe side by actually expecting less" from this earnings season.

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This post was written by Naomi Buchanan.