The market's longer-term direction will likely hinge on U.S. leaders' ability to attack the fiscal challenge between Thanksgiving and Christmas, Frederick said."If they can put some sort of a plan together, or make us believe they have a plan, or at least that there's some cooperation going on there, that could be a real boost for the market," he said.
US Stocks Rise On Hopes For Budget Deal, Europe
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts