Money Life With Chuck Jaffe Daily Podcast

Michael Kelly, global head of multi-asset at PineBridge Investments, says that the stock market had priced in a soft landing before the recent, temporary spike in volatility, but that action made investors realize that the potential for a hard landing is on the rise, even with Federal Reserve rate cuts on the way. Either way, Kelly says the long-term trend for the market will be positive, but he cautions that where markets go up during soft landings, investors get punished by hard landings until the bottom is reached, so he suggested caution while watching the Fed try to pull off a perfect landing. Also cautious -- but based on the market's technicals, was Lawrence McMillan, president of McMillan Analysis, who said the early August blip was nothing more than a temporary move, what will ultimately be a forgettable day and he thinks the market is more likely to test resistance at roughly 5,700 on the Standard & Poor's 500 before it tests support, which he figures is roughly 5,380. Jonathan Lansner, financia