ICON's Callahan: Don't expect a market breakout -- or a plunge -- now

Craig Callahan, chief executive officer at ICON Advisers, says that the stock market is close to its fair value right now, but that 'the expensive industries the way we measure value are leading and the bargains are lagging and very sluggish,' a situation that is unsustainable and that will lead to volatile, choppy, sideways markets for the next few months. Callahan says he is holding more cash than normal but he expects to be fully invested by the fall of 2023, when he expects the market to be 5 to 7 percent higher than it is today. Also on the show, Odeta Kushi, deputy chief economist at First American Financial Corp., discusses the 'golden handcuffs' that the rapid increase in mortgage rates have put on many long-time homeowners, locking them into their properties and altering the housing market's prospects in ways typically overlooked by buyers and sellers, Mark Hamrick, senior economic analyst at BankRate.com discusses the site's recent survey showing that a majority of Americans are considering job changes despite of or because of current economic uncertainties, and Chuck answers a listener question on how the government's debt-ceiling problems could affect investors in ultra-safe money-market funds.