[video] Quick Take: Santa Rally Will Be Bumpy
NEW YORK (TheStreet) -- The markets have been volatile following the November ADP report as investors worry about a potential tapering from the Federal Reserve.
TheStreet's Debra Borchardt spoke to Jon Corpina, senior managing partner at Meridian Equity Partners, about what investors may expect for the rest of the month.
Corpina said the economic data aren't as important to market participants as the interpretation because of how it will sway the Fed. Volatility has reemerged among all the uncertainty, something that doesn't help a market near all-time highs.
Corpina stressed that it will be important for the uncertainty to be removed, so the market can get back to technicals and fundamentals. Right now, there are too many questions regarding tapering; when it will begin, how much will be tapered and how fast?Over the short term, positive economic news is bad because of tapering, but over the long term, it's a good thing. Aside from tapering fears, there's the political mess surrounding the budget debate, underperforming funds and tax maneuvers, Corpina concluded, making it a bumpy ride for the rest of the year. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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