Stock market backside not in but, regardless of bounce after Monday's historic decline: Economist

The inventory market has not reached its backside but, whilst indexes have been headed big Tuesday after historic declines, economic expert Mohamed El-Erian hep CNBC.Wall Street veteran Jeff Saut recommended buyers to take a nuanced view of the inventory markets good points Tuesday.While Saut expressed he believes the market probably hit its backside on a historic Monday, he expressed it ll take time earlier than theres a sustained dash to the upside.I dont trust the first rally. I think were going through a bottoming process, Saut expressed on Power Lunch.I think the lows are probably in. But I dont think were going to get right up and run the 100-yard dash here either, added Saut, chief funding strategian at Capital Wealth Planning.Sauts feedback got here as equities rebounded Tuesday as buyers processed information that the U.S. government is contemplating commercial enterprise stimulation measures to offset the commercial enterprise penalties of the coronavirus.The Dow Jones Industrial Average closed up greater than 1,100 factors, or about 4.8%, in a risky day whereas S&P 500 and Nasdaq Composite finished up much 5%.Nearly fortnight in the past, when the three main U.S. indexes fell greater than 10% from their current highs and entered into correction territory, Saut expressed he thought the markets power however drop additional.Saut expressed he had seen indicators available in the market in January that indicated to promote short-term buying and marketing positions as a way to increase money for funding accounts.Quite frankly, I didnt think it would be this deep, he expressed.At the time, Saut expressed the coronavirus was on his radar, as was the rise of Sen. Bernie Sanders inside the Democratic presidential main.But the previous chief funding strategian at Raymond James expressed he didn t foresee the crude crash that came out of the blue, a reference to Mondays steep declines in oil costs.For entry to reside and unique video from CNBC take CNBC PRO: https://www.cnbc.com/pro/?__source=youtube Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision Subscribe to CNBC: https://cnb.cx/SubscribeCNBC Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassicTurn to CNBC TV for the newest inventory market information and evaluation. From market futures to reside worth updates CNBC is the chief in enterprise information worldwide.Connect with CNBC News Online Get the newest information: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC#CNBC #CNBC TV