But when planning a longer-term outlook for stocks as earnings season gets underway, investors looking to plan for the final three months of the year are fixed on the strength of the dollar.
"We have the seasonal patterns that really take over now. I do think if you contrast where we were with last year – the chart patterns look very similar to the S&P 500 and the Russell 2000 small cap index," chief investment officer (CIO) at Palisade Capital , Dan Veru told CNBC.
"But the big difference is the big appreciation in the dollar over that time. So I think it is going to be a much more selective recovery of shares, it is going to be more the domestically focused companies, more towards the small caps rather than the multi-nationals which have big international exposure," he said.
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Veru expects interest rates to move next year, partly on concerns over the dollar as 45 percent of S&P 500 revenues comes from outside the U.S., meaning greenback strength could seriously weigh on earnings.
"I think first quarter at the very earliest, (for an interest rate rise) the Fed is very concerned from everything they have announced, that this economy could slip back into recession," said Martin Leclerc, CIO and portfolio manager at Barrack Yard Advisors.
U.S. stocks traded about 1 percent higher Monday, attempting to extend a recent recovery from correction levels, as investors awaited earnings reports and digested implications from Friday's jobs report on the timing of a rate hike.
Few analysts could find any positives in the September jobs report, which showed the U.S. economy created 142,000 jobs, a number far below the expected 203,000. August and July figures were also revised lower.