Video: 'Surprising Strength' in Pharma & Banks

What's driving the market on Tuesday afternoon? Bernard McSherry, of Cuttone & Co., checked in with CNBC.

Late Afternoon Trading Buzz
Late Afternoon Trading Buzz   

"The good news is we're not drowning -- we're treading water," McSherry said.

He pointed to "surprising strength" in pharmaceuticals and financials -- but cautioned investors: "You've got to be selective."