August 29, 2013

Flurry of pressures slows markets

Investors shy away as the economy grapples with Syria, rising oil prices, and stimulus indecision.

By KEN SWEET/The Associated Press

(Continued from page 1)

"When you add it all up -- the problems in Libya, Egypt, Syria -- you're looking at three million barrels a day in potential production outages," said Nick Koutsoftas, a commodities-focused portfolio manager at Cohen & Steers.

Market observers emphasized that for long-term buy-and-hold investors -- the average American with a 401(k) -- it's best not to follow professional investors to the sidelines. Lower stock prices could lead to buying opportunities.

"If you're looking out three years, there are a lot of positive things going on," Hyzy said, noting that the economy is slowly recovering, and the U.S. is moving toward energy independence and a revival of manufacturing -- both of which could create jobs.

"I would buy, if you have a three-year investing horizon," he said.

Lawrence Creatura, a portfolio manager with Federated Investors, said the stock market pullback in August has created opportunities to start picking individual stocks again.

Creatura pointed to the retail industry -- which has been hit hard by lower profit forecasts and the rise in oil prices -- as an opportunity. "Lower prices make some stocks more attractive," Creatura said. "Our analysts are extremely busy."


Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors

Further Discussion

Here at we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)