Strategist talks about Moody's downgrade of US credit rating: It is expected that the stock market will experience a round of profit taking after a strong rebound.

Michael O'Rourke, Chief Market Strategist at JonesTrading: "I expect the stock market to experience a round of profit-taking after a strong rebound. When Standard & Poor's downgraded the U.S. rating in 2011, U.S. Treasury bonds were initially sold off, but then there was a flight to safety, and bond prices started to rise."