A drop in claims for new unemployment benefits, as well as a Federal Reserve report that the economy grew at "modest pace" between September and early October, may be giving investors reason to halt the rally in stocks, said Todd M. Schoenberger, managing director, LandColt Trading.
That's because the somewhat brighter economic news evident in these reports could mean the Fed elects to either not buy assets to boost the economy, or buys fewer than the market has been anticipating, Schoenberger said.
"That would explain why stocks are selling off: people are looking at the data, and saying, this just doesn’t make sense," he said.
http://www.cnbc.com/id/39784531
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