Here's Why the Stock Market Could Spike Another 10%

The stock market is likely headed higher, according to Scott Minerd, global chief investment officer at Guggenheim Partners. "This is a seasonally difficult time for stocks," he said, referring to the market's tendency to fall in September. "The fact that we haven't been able to really beat stocks down in September and October I think is telling me that there is some underlying strength." The S&P 500 fell only 0.1% in September. Once the uncertainty surrounding the 2016 presidential election fades, Minerd sees the S&P 500 rising another 5-10% by the end of the year, from its current level of roughly 2,130. Minerd's forecast would put the broad index in a range of roughly 2,236 to 2,343. TheStreet's Scott Gamm reports from Wall Street.