NDR's Kalish: 'A good backdrop' will let the economy, market roll on

Joe Kalish, chief global macro strategist at Ned Davis Research, says he won't be surprised if there is a "normal correction" for the stock market once the presidential election is decided, followed by a pick-up into year's end, regardless of the election outcome. Kalish says he is skeptical that the economy can get to a 2 percent inflation level sustainably without going through a recession, but he does not have a recession prediction in his outlook, which argues for no landing over the next year or two. He expects the market to keep growing, albeit not at the pace seen over the last two years. Larry Tentarelli, editor of the Blue Chip Daily Trend Report, says that he is holding to a year-end target for the Standard and Poor's 500 of 6,000 to 6,100 — a gain of about 5 percent from current levels — provided the presidential election is decided in a timely fashion, so that uncertainty doesn't start to setin and cause unexpected problems. Mona Mahajan, senior investment strategist at Edward Jones discusses the firm's research into caregivers and the sandwich generation, which showed that caregiving responsibilities have sapped the confidence of American women about their ability to save for the future. And while the election results likely won't be known for several days, Mark Hamrick, senior economic analyst and Washington bureau chief at BankRate.com talks about the pocketbook issues that Americans are facing and how the election could impact what happens next.