Stocks (^DJI, ^IXIC, ^GSPC) are rebounding from a global sell-off that drove US markets down last week and into this trading week. Northwestern Mutual Wealth Management Company CIO Brent Schutte joins Morning Brief to discuss his market and economic outlook.

Schutte observes that in recent years, individuals have been able to "shrug off any economic fears" that could lead to recessions thanks to the strength of the labor market. However, he notes investors continued to believe in a strong labor market narrative even as it was weakening. When the Sahm rule was triggered, Schutte states, "That's where I think people started realizing perhaps the labor market is weakening."

With the Federal Reserve opting to not cut interest rates until its September meeting and the labor market showing signs of weakness, Schutte believes this dynamic is fueling recession fears.

He advises investors not to rely on Fed moves when investing in the market, as volatility can occur at any moment. Regarding Monday's global sell-off, Schutte comments: "That to me is a sign of a market that has some potential weakness in the future and that's why I think it could happen again."

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Angel Smith