US Markets

New president, new market woes?

Which candidates provide economic certainty?

Chatter has picked up steam on Wall Street, as investors forecast the implications of a new president for the market. Weighing in, John Buckingham, AFAM Capital's CIO, told CNBC that he wouldn't lose sleep about the presidential race.

"We have to remember in this country we have a system of checks and balances — so there is Congress," he said, adding that "unless the president actually controls Congress," he wouldn't worry.

Super Tuesday proved to be victorious for front-runners Hillary Clinton, Democrat, and Donald Trump, Republican, making them the most challenging candidates of the race. But investors may want to go against the grain, according to Buckingham, who claims Ohio Gov. and Republican presidential candidate John Kasich would befit equities.

"He might be best for the stock market in the long haul," Buckingham sustain. "Again, I don't really see a big reason for investors to make any major moves in their portfolio based on Super Tuesday."

Financials picked up, is it a buy?

Traders work on the floor of the New York Stock Exchange.
Stocks close slightly higher; oil, US data eyed
Chef Sam Adkins at his restaurant, Sally's Middle Name in Washington, D.C.
US private sector payrolls totaled 214K in Feb. vs. 190K est.

The market rallied ahead of Super Tuesday on the day, with financials leading nine out of 10 sectors of the S&P 500 to close the day positive. Alongside energy, financials lead the index higher on Wednesday during intraday trading.

Earlier in the year, recession fears and low oil prices fueled the dipping in financials, but the sector remains oversold, Jeff Carbone, Cornerstone Financial Partners managing partner said in an interview with CNBC's "Power Lunch."

"The market has come off its lows of down almost 11 percent; now we've rebounded up about 8.5 percent," he said, adding that oil companies aren't staggering into bankruptcy.

Despite Carbone's bullish outlooks and the sector's latest progress, investors remain cautious as energy repercussions may cause more trouble than it's worth. Buckingham told "Power Lunch" that while his firm has exposure to the sector and likes it, his team doesn't feel the need to be "overweight" on financials.

"There is still — obviously — concerns about loan loss reserves for banks; obviously the interest rates environment is not as favorable for banks or insurance companies," he said.

— Chris Hayes contributed to this report.