The major indexes (^DJI, ^IXIC, ^GSPC) closed in the red on Friday following the release of the August Jobs report, which fell short of economists' expectations. Fort Pitt Capital Group chief investment officer Dan Eye joins Market Domination to share his market outlook in light of this development.

Eye observes that a "wall of worry" had formed after the August lows, suggesting that Friday's sell-off was likely due to markets climbing that wall "a bit too fast." However, he reassured investors by stating, "this is the last leg of the normalization process," advising them to remain calm and not be overly concerned.

Looking ahead, Eye predicts that as this period passes and earnings growth continues, "Assuming that the economy holds up, we expect that to carry into 2025 as well and create a pretty solid backdrop for the broad market and well-diversified portfolios."

Regarding future earnings, Eye anticipates growth will extend beyond the tech sector. He highlights healthcare and industrials as areas that are "recovering."

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This post was written by Angel Smith