Markets rebound, "close enough to bottom"

Markets were mostly higher on Wednesday.

The S&P 500 surged 5.0 percent while the Nikkei 225 rose 0.9 percent. Most European markets were closed.

Scott Minerd, Guggenheim's head of investing, told CNBC on Wednesday: "We're close enough to a bottom [in the equity market] that investors should be stepping in."

Other analysts think that a recovery in stocks could take a while to come.

Nick Colas, Data Trek Research co-founder, said that there have been many issues hitting the market towards the end of the year and that "there's no horizon to see any one of these individual topics to resolve themselves in the next 20, 30, 40, 50 days".

UBS economist Rob Martin said that this could be a "short-lived temporary shock" but expects a pick-up in economic growth in the second half of next year.

Washington Crossing Advisors senior portfolio manager Chad Morganlander said that there is still money to be made in 2019 but expects "deceleration" and suggests that "one has to be a little bit more cautious".

In contrast, Charles Bobrinskoy, portfolio manager at Ariel Investments, thinks that "we're going to have earnings growth next year, which is why we just think this market is attractive".