Bruce Levis, managing director at McQueen, Ball & Associates, says that the market has yet to hit bottom, but offered a few sector selections that could benefit investors.
Levis recommended health care and consumer staples sectors, rather than the tech names.
“There are some tech names that are interesting, but the health care and consumer staples sectors play up the dividend growth theme, which is important in a volatile market.”
“I think we have a little ways to go [before reaching market bottom],” said Levis. “We need to get some repairing of the credit markets; it’s a pretty restrictive environment now in terms of new credit generation. So we need to see some of that get behind us. We do need to see more stabilization in house prices, and we need to burn off some inventories in the housing market as well.” (Watch the video to hear more from Levis and other experts on the economy...)
Disclosure information for Bruce Levis not immediately available.
Top health care names:
- Johnson & Johnson
- Procter & Gamble
Top consumer staples names: