Let's take a look at the market.
Jacob Sonenshine, reporter for TheStreet, and Stephen Cucciaro, CIO of 3Edge Asset Management, sat down with TheStreet to take a look at the markets and to explain why Cucciaro has warned investors that U.S. equities are oversold.
"So three things are propelling markets right now. Earnings have come in really nicely about 80% of S and P 500 companies that have reported third-quarter earnings have beaten. The guidance has not consistently been there, but the market has focused on the earnings that have come in. Expectations were pretty low. So that's a nice little boon to the market. Second thing is phase one, quote unquote, trade agreement, investors think will happen. That's not everything, but you'd get tariffs taken off the table for December and potentially some of them rolled back in 2020. So that's nice. And then the third thing is interest rates have continued to stay low and the fed has been accommodated. So those three things are going to, you know, combined for stocks moving on, you know, a little bit higher," said Sonenshine.
Watch the full video above for Cucciaro's full answer.