Related storiesWhile those concerns served as the kindling, it was the July jobs report that sparked terror.
A closer look at the jobs report reveals that while job additions underwhelmed, jobless claims were also minimal.
AdvertisementSecond-quarter earnings growth has been impressive so far and seems set to rise by low single digits, according to UBS GWM.
The bullish strategy chief remarked in a note Monday that six of the 11 market sectors have enjoyed double-digit earnings growth this quarter, while only three have seen declines.
"Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" Stoltzfus wrote.
Persons:
—, Oppenheimer, Jonathan Golub, Oppenheimer Jason Draho, Americas Solita Marcelli, Marcelli, Beryl, Draho, That's, David Lefkowitz, John Stoltzfus, Stoltzfus
Organizations:
Service, Business, UBS, UBS Global Wealth Management, Labor, UBS GWM
Locations:
Americas