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Summer playbook: Where the experts see opportunity

Not worried, a lot of opportunity: Pro

The summer months may be volatile and difficult, but that doesn't mean investors can't make money, market expert Katie Nixon said Friday.

The chief investment officer for wealth management at Northern Trust is still bullish on U.S. equities and anticipates high, single-digit returns this year.

Specifically, Nixon, who guides the management of $233 billion in assets, likes financials and health care.

While she may be "a bit concerned" about health-care valuations, she said the fundamentals are really strong from both a supply and a demand perspective.

"There are some really fundamental tailwinds that we think will support health-care stocks going forward," Nixon said in an interview with CNBC's "Power Lunch."

"Clearly we're seeing heightened M&A activity that also provides a lot more interest in the sector as well."

Trader on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters

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Kristina Hooper, U.S. investment strategist at Allianz Global Investors, believes there could be a pullback this summer, along with more volatility as the Federal Reserve's first interest rate hike nears.

However, she does see "a lot of opportunity" in the U.S. She likes health care, financials, consumer discretionary and especially technology.

"Typically technology does well in June, that's something we've seen historically," she said.

Plus, "if you look at the past, the last four rate-hike cycles, technology has held up very nicely in that kind of environment. And with expectations that we're going to see liftoff soon, technology is a good place to be."

As for the economy, despite recent weak economic data, Nixon expects it to improve in the second half of the year.

That data include the Chicago PMI unexpectedly falling in May and the revision of first-quarter gross domestic product estimate from positive to negative.

"Clearly, the first quarter was weak. We had that last year, as well, a couple of transitory events taking place. We haven't jumped out of the gate in the second quarter as strongly as we had hoped," she said.

However, "our forecast for 2015 GDP is still slightly under 3 percent, so we do expect to see a recovery here."

—CNBC's Jennet Chin contributed to this report.