Tuesday's trading session is, overall, muted as Wall Street prepares for bank earnings.
Bob Lang and Chris Versace, portfolio managers for Action Alerts PLUS, discuss their approaches to the market.
"U.S. stocks nudged lower Tuesday, while global markets maintained a cautious tone heading into the third-quarter earnings season with a focus on surging energy prices, faster inflation and their combined effect on growth prospects in the world's biggest economies," TheStreet's Martin Baccardax noted.
Versace, as a fundamentalist, is gearing up for earnings season. While Lang looks at the technical conditions of the market.
"With a global energy crunch boosting inflation forecasts, semiconductor shortages set to last well into 2022, and corporate profits pressured by rising input costs and a tight labor market, investors are recalibrating both their assumptions for global growth and market performance amid the lingering challenges brought on by the global pandemic," Baccardax noted on Monday, Oct. 11.