Stock futures rise after major averages post third straight week of

Investors should navigate the ongoing market volatility by getting into ETFs with a long-term growth story, according to one portfolio manager.

“The idea of owning ETF instead of one specific player — you have the whole basket and ride the wave of more capital investment into the cyberspace,” John Petrides, portfolio manager at Tocqueville Asset Management, told CNBC.

He names his favorite cyber security ETF, along with two others.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Strategists are urging investors to allocate more of their portfolios to cash during these volatile times, as interest rate hikes mean it’s now offering higher yields.

“Cash was king” last month, Bank of America said in a Sept. 1 note, as most asset classes — such as stocks, bonds and even commodities — posted losses.

Here’s how to add it to your portfolios, according to the pros.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Last week’s sell-off saw the major averages post their third straight week of losses. All 11 S&P 500 sectors ending the week negative, led to the downside by materials, which fell nearly 5%.

Here’s how the major averages fared:

• The Dow Industrial Average fell 1.1% on Friday. The 30-stock index closed roughly 3% lower for the week and finished more than 15% off its 52-week high.
• The S&P 500 fell 1.1% on Friday and 3.29% for the week. The benchmark index hit its lowest close since July and closed more than 18% off its 52-week highs.
• The Nasdaq Composite fell 1.3% on Friday and finished its sixth negative session in a row for the first time since 2019. The tech-heavy index fell 4.21% for the week and closed more than 28% off its 52-week high.

— Samantha Subin, Christopher Hayes

How markets react to the news over the weekend could play an integral role in where the markets move going forward, said Truist’s Keith Lerner

“The best side for the bulls would be that the market is actually able to stabilize with all the bad news,” he said. “That will at least tell you that the market has taken enough short-term pain. I’m just looking to see — in an oversold market — can we find any kind of stabilization coming back online after a long weekend.”

According to Lerner, technical indicators show the most extreme oversold conditions since June’s trough, but the market moving higher or slightly only lower on the back of the weekend could be a good sign.

Over the long weekend, Europe grappled with energy supply concerns amid news that Russia would halt gas flows to Europe, while OPEC+ announced a production cut. Lerner is also closely watching the ECB and its impending decision on rate hikes.

“What you want to see is can the market find some stability tomorrow as opposed to a…