NEW YORK (TheStreet) --On the final trading day in October, the U.S. markets are pacing to have the worst month in terms of performance since January. Miller Tabak managing director Matt Maley believes there are both near-term and long-term concerns that could result in more turbulent times ahead.
"On a near-term basis obviously anything can happen with the election coming up. On a longer-term basis I'm a little bit more concerned because I think all three of the main stools to the markets are really not as strong as they were earlier in the year," he explained during Monday afternoon's "Power Lunch" on CNBC.
Central Banks not being as accommodative, stagnate economic growth, and the amount of investments enterprises have put into their own business over the past years has been poor. "So the foundation is not good," Thompson added.
"Then, of course, earnings, with the dollar being stronger, I don't know if they will bounce back as well as they have in the past," he noted.