The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The recent market sell-off is not an indication of the nation's economic health, Wall Street analyst Neil Hennessy told CNBC on Tuesday.
In fact, he said, many indicators show that the U.S. is in "great shape."
"When I look at the market and economy, they're completely different," the Hennessy Funds investment chief said on "Power Lunch." "I think we're still marching towards 30,000" on the Dow Jones Industrial Average.
While volatility has crept into equities, "the economy's in great shape," Hennessy added. "The job numbers are in great shape. Corporate cash is in great shape. Cash flow's up. The whole nine yards."
He said he would look for value because it is always in the market in both good times and bad times.
U.S. equities have had a rocky month. The Dow is off by 6.9 percent, its worst performance since May 2010. The is down 8.7 percent in October, its worst month since February 2009.
The recent action prompted "Mad Money" host Jim Cramer to assert on Monday that "the stock market is signaling that the economy is in for pretty rapid deterioration, just like 2008 … fortunately, there's no systemic risk."
Jason Pride, CIO of Glenmede Trust Company, agrees with Hennessy. He said his firm would not change its portfolios "all that much" as its strategy has been to tilt portfolios "towards defensiveness and towards value."
Glenmede has been concerned about the narrow growth in glamour stocks roughly over the past year, Pride said, but there's more to come.
In order to broaden the base, Pride says: "Come in at lower valuation levels, set up for the next part of this ongoing bull market, we think makes sense, but it doesn't mean that investors should be really reacting that dramatically."
Looking forward over the next 12 months, Hennessy said, the market reminds him of the phase between 1982 and 2000 when "the market was up each and every year" except for 1990.
"The bottom line is, if you're just patient, you're going to make money," although not as much as in 1999, Hennessy said.
"The difference is there's no euphoria in this marketplace, and that's what would actually end the bull market," he said.
— CNBC's Tom Franck contributed to this report.