(This is CNBC Pro’s live coverage of Thursday’s investor chatter on the market volatility.) Investors will try to find their footing once again Thursday, as they look for signs the economy isn’t deteriorating as quickly as feared a few days ago. Wall Street got some good news on that front, after fresh jobless claims pointed to some resilience in the labor market. After a disappointing July jobs report served as one of the catalysts for the recent bout of selling, investors expect the consumer will be in greater focus for the balance of the year. Stocks have slid in four of the previous five trading sessions. On Wednesday, the major averages closed lower — having failed to hold onto an early rally. The volatility could continue into September, when the Federal Reserve will make its next decision on interest rates. Markets are pricing in a half percentage point cut at that meeting. Follow along for the latest market chatter and reaction. All times ET. 12:31 p.m.: Citi sees 50 basis point cut in September, economy at ‘inflection point,’ global economist says Citi is forecasting a 50 basis-point rate cut by the Federal Reserve in September, but there are still a lot of questions about whether that may actually happen, said Rob Sockin, the bank’s senior global economist. September’s cut will be followed by another 50 basis point cut in November and another 25 basis point cut in December, bringing the total to a 125 basis point decrease from its current level of 5.25%-5.5% by the end of the year, according to Citi’s forecast. One basis point equals 0.01%. “That’s our U.S. team’s view — that you really are starting to get those recessionary conditions,” Sockin said in an interview on CNBC’s “Money Movers.” The team looks at things like tight credit conditions and the strain on lower-income consumers. “They are really worried about that big move up we’ve had in the unemployment rate. So, they think that is going to continue to worsen.” However, Sockin’s own view is that the “jury is still out” and that he’ll have to see how the data will evolve in the coming weeks. “We are at an inflection point,” Sockin said. “The economy was also going to moderate and there are a lot of reasons to think that the data aren’t quite weak as that latest payrolls report suggested. Much of the unemployment rate increase that we’ve seen this cycle has been due to improving labor supply.” “To me, if the economy is still moving along at a moderate pace, I think the case is stronger for a 25 basis point start,” he added. — Michelle Fox 12:18 p.m.: LPL’s Quincy Krosby recommends quality stocks within industrials, financials LPL Financial chief global strategist Quincy Krosby is looking ahead to a strong market. “The claims numbers assuaged fears of impending deterioration in the labor market, and now underpinning a strong rally. Still, be mindful of the forced selling from earlier this week because, typically, it leads to selling into pockets of strength in order to book profits,” Krosby said. She added that investors may need to navigate through a further pullback before the market levels off. Krosby recommended high-quality dividend stocks within the industrial sector, as interest rates are expected to decline, as well as quality stocks in financials. — Pia Singh 11:49 a.m.: A Thursday decline could test Tuesday lows, Piper Sandler says The major stock market averages could test Tuesday’s lows and 200-day moving average if it turns during Thursday’s session, according to Piper Sandler chief market technician Craig Johnson. To be sure, that would require a dramatic reversal. The Dow and S & P 500 have both climbed more than 1%, while the Nasdaq is about 2% higher. — Alex Harring 10:47 a.m.: Stocks still at risk, JPMorgan warns Market pressure won’t relent for a while, according to JPMorgan strategist Dubravko Lakos-Bujas. “While the recent market flush took out some of the froth, equity positioning and valuation still remain at risk especially if growth continues to decelerate and the Fed does not show urgency,” Dubravko said in a note. “Our house view (JPM economics) expects FOMC to cut 50bps at both the September and November meetings followed by 25bps cut at every meeting thereafter. Historically, the start of FOMC easing cycles coincided with negative performance for risky assets.” His comments come as stocks attempted for a second day to regain their footing, with the Dow up more than 500 points. To be sure, equities were sharply higher on Wednesday before closing lower for the day. Longer term, though, Lakos-Bujas expects stocks to rise. “The current equity rotation, in our view, is more in line with an intra-cycle unwind rather than a start of a full-fledged end of cycle Momentum flush,” he said. — Fred Imbert 10:02 a.m.: T.S. Lombard says correction is ‘contained’ The market’s recent setback is a good moment for longer-term investors, according to T.S. Lombard. “We expect the market to recoup its recent losses over the coming weeks as the economic data have not soured to such an extent as to invite a serious recession debate,” analyst Andrea Cicione wrote in a Thursday note. “Our soft-landing view argues for a contained correction.” Cicione recommends a long position in the equal weight S & P 500 and high-yielding corporate bonds, which he said are now at more attractive entry points. According to the analyst, the recent sell-off is a “healthy” correction that bodes good buying opportunities. He noted that bouts of volatility show equities tend to bounce back relatively quickly after the Cboe Volatility Index spikes, with the median trajectory showing the broad-market index recoups its losses within two to three months. “To be clear, 5%+ pullbacks in the S & P 500 occur more than three times a year on average and the current rout in markets is nothing that the Fed or investors should worry about excessively,” he said. — Pia Singh 9:57 a.m.: Portfolios should include defensive names, Pivotal’s McGhee says Pivotal Advisors CEO Tiffany McGhee said Thursday that all portfolios should include defensive positions. “It’s very exciting to get caught up in these large-cap, growth stocks … that had been driving the performance of the market for so long,” she said on CNBC’s ” Worldwide Exchange .” “But it’s really important to have a balanced portfolio.” McGhee recommended the Consumer Staples Select Sector SPDR Fund (XLP) , which includes names such as Walmart , Procter & Gamble and Coca-Cola . The fund has climbed nearly 9% in 2024. She also said the most important factor for moving the markets in the near-term is if the Federal Reserve cuts interest rates in September. — Alex Harring 9:07 a.m.: Evercore ISI: Market sell-off is a ‘buyable correction in a bull market’ amid strong earnings Fears tied to the recent market sell-off are overblown, Evercore ISI says, particularly when in comparison to the political, social and economic challenges of half a century ago. “And with the VIX cresting at 65 on Monday, reinforcing our view that the selloff is a buyable correction in a Bull Market, not the end of the Bull Market. We are reminded that earnings drive stocks in the long term,” analyst Julian Emanuel wrote in a Thursday note to clients, emphasizing that the better-than-expected earnings season so far remains a bright spot for investors. Earnings growth of more than 11% during the second quarter, with estimates holding relatively steady for 2024 and 2025 despite some signs of a slowdown in the U.S. economy, “bodes well” heading into the upcoming presidential election, Emmanuel said. — Pia Singh 9:07 a.m.: It’s time to build quality tech exposure, UBS says Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management, said the market sell-off has uncovered opportunities in quality tech stocks, particularly in global internet and semiconductor companies. Global tech stocks are on pace to post earnings growth of 20% to 25% year over year in the second quarter, with artificial intelligence spending remaining resilient, she noted. Marcelli said she prefers quality companies with strong balance sheets and earnings growth, as well as AI beneficiaries. She noted China’s big tech companies could also offer defensive characters for investors. — Sarah Min 9:07 a.m.: Peter Kraus is buying the dip now: ‘If you get a 10% discount, take it’ Peter Kraus, chairman and CEO at Aperture Investors, said he has already started buying the dip this week, arguing it’s difficult for investors to time a market bottom. “You know my view. Long term investing is critical. If you get a 10% discount, take it,” Kraus told CNBC’s “Squawk Box” on Thursday. “Let’s say it falls down 20%. Yes, you’d be smarter buying down 20%, but you bought it down 10%.” “That’s still a good deal,” he added. — Sarah Min