Pros Say: We're Due For a Market Pullback (UPDATED)

Stocks snapped a four-day winning streak on Wednesday after a trio of weak economic reports tarnished the shine on recovery hopes. This morning's ADP jobs report showed U.S. private employers shed 532,000 jobs in May, fewer than the upwardly revised 545,000 jobs lost in April, but more than 520,000 expected. Experts commented on the above and more. Read and listen to what they had to say...(UPDATED)

We're Due For a Market Pullback

A market pullback is coming, said Rick Bensignor of Execution LLC. He said he is not negative on the dollar, despite bearish sentiments.

Meanwhile, Dean Curnutt of Macro Risk Advisors said massive liquidity provided by the Fed is forcing investors back into risk assets and there will be significant economic challenges in the long-term.

U.S. Autos Can Cut It

It’s been known for a long time that there were too many domestic dealerships and it was a struggle, said Herb Chambers of Herb Chambers Companies. He said American companies are now producing high-quality cars that can compete with Japanese cars.

GM/Chrysler Bankruptcy Was Inevitable

Austin Logon of CarMax said while auto makers' bankruptcies were unfortunate, it was an inevitable processbecause it was the only way that GM and Chrysler could get out of dealer networks that generate unnecessary amounts of cost that’s added onto the vehicles.

Do Not Expect a ‘V-Shaped’ Recovery

Didier Borowski of Societe Generale Asset Management said he does not believe that the recent rally has been based on fundamentals. As a result, he expects disappointing economic data ahead. “While there seems to be a stabilization, there is no reason from a fundamental standpoint that we’ll see a V-shaped recovery,” he said.

Second opinion:

GDP Growth of 1.5-2% in Q3

“We’re on our way to an economic recovery — the recovery could be here by summer’s end,” said John Lonski of Moody’s Investors Service. Whenever jobless claims numbers decline for two consecutive months, it signals the end of a recession or a beginning of a recovery, he said. He predicted a 1.5 to 2 percent GDP growth in the third-quarter.

Counterpoint: ‘Sub-Par’ Recovery... Next Year

“We have some significant imbalances we have to work with and the consumer savings rate has to go up,” said David Rosenberg of Gluskin Sheff & Associates. Although there will be a “sub-par” recovery, it will not take place until next year. “It tells me to be cautious in investment strategies,” he said.

Investor Spring Cleaning - A CNBC Special Report
Investor Spring Cleaning - A CNBC Special Report

Market Rally, But Missing Fundamentals

The recent global stock market rally has been like a "self-fulfilling prophecy,"said Simon Godfrey of Fortis Investments. Markets are continuing to rally on anticipated good economic data. However, he said the rally is getting away from some of the fundamentals and warned investors should be cautious.

Cap & Trade Battle Goes On

The cap and trade battle picks up steam on Capitol Hill as the leading legislative proposal would reduce allowable CO2 emissions to 83 percent by 2020. Thomas Farrel of Dominion Resources said although there will be cost increases, his industry is making an effort to make sure costs are reduced as much as possible.

CNBC Slideshows:


CNBC's Companies in the News:

Morgan Stanley

China's CIC Ploughing $1.2 Billion into Morgan Stanley


Aon To Take AIG’s Place On Manchester United Jersey

General Motors

GM Shuts Part of US 'Arsenal of Democracy'


Higher Interest Rates Taking Toll On Loan Demand: GMAC

Toll Brothers

Toll Brothers Sees Buyers Returning