October is shaping up to be the best month for the S&P 500 in four years. But even with this rally, market returns will probably be lackluster this year.
Allianz Global Investors U.S. Investment Strategist Kristina Hooper tells CNBC's "Power Lunch" on Friday she doesn't see stocks moving much higher from here.
Jim Dunigan, chief investment officer at PNC Asset Management, believes there are many issues weighing on stocks.
"Risk of continued volatility continues with potential headline risk out of Washington - debt ceiling , budget. S&P probably won't do much better than flat for the year," Dunigan said.
Materials, industrials, energy, biotech are lower during trading, while pharmaceuticals is higher.