Stocks were mostly flat at the open as investors paused ahead of fresh signals on how strong the economic recovery will prove itself. Major averages were little changed though trending higher, as rising commodity prices drove the market. Read and listen to what the pros had to say ...
Stocks Due for ‘Healthy Correction’
Many investors are expecting a pullback in the stock market, but it would be a "healthy correction," said Dan Greenhaus from Miller Tabak. He said a 10 to 15 percent pullbackis “a breather in between earnings season isn’t the worst thing for equities.”
'Sudden' Pullback Due—Use as Buying Opportunity
Markets are due for a pullback, said Michael Gurka from Empower Global Funds, adding that it could be "very sudden and abrupt, only because we're coming up against a pretty good resistance level in the Dow of 9,568." He added that the pullback could be a buying opportunity for some investors.
S&P 'Starting to Roll Over'; to Test 981
The rally in the S&P is starting to lose momentum and the index could “attack the downside” toward 981in the coming weeks, said Chris Locke of Oystertrade.com Management. “This market is starting to roll over,” Locke said. “I’m generally looking for a weaker period through September into November. I’m still reading this as a bear market rally,” he added.