The drop in oil will help discount retailers this earnings season, but it will not give an added lift to luxury players like Tiffany, said JJ Kinahan, Chief Strategist for TD Ameritrade. Kinahan added that investors should dollar cost average into beaten down energy stocks because oil could continue to make new lows. He said plummeting oil prices could hurt the country’s largest banks because of their high yield exposure. Kinahan also warned investors to lower their expectations in the biotech sector after last year’s M&A driven rally. Finally, Kinahan said investors should get ready for higher volatility in the coming year.
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