Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store

Investors are just a few trading days into a month that's living up to its reputation for volatility and many expect there will be more choppiness before the year closes out. This week alone, the Dow Jones Industrial Average notched its worst day since March, and dipped into negative territory for the year . The S & P 500 is teetering atop crucial support at 4,200. And, all three major averages are down for the quarter.

" But other market participants disagree. B. Riley Financial's Art Hogan said the rise in bond yields thus far has more to do with data pointing to a strong economy. As investors worry less about the Fed's monetary policy, he argued, they'll recognize that better economic data will point to stronger top line revenues and drive earnings for businesses. In other words, good news will return to being good news.

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