US Markets

Short-term fears aside, Brexit won't have big impact on US market: Experts

How to invest for Brexit
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How to invest for Brexit

The Brexit vote, and fears surrounding it, will have a short-term impact on global markets but should not have a significant effect on U.S. stocks this year, two market experts said Monday.

"If there is some noise, and there probably will be in the pound and some fear in the markets, it would probably be a pretty good opportunity longer term," Matt Roddy, portfolio manager with Rockland Trust, said in an interview with CNBC's "Power Lunch."

"We'll get through this. The world economy is not going to shut down because ... the U.K. left the E.U."

Concerns about Britain's upcoming vote on whether to leave the European Union have contributed to recent market volatility. The referendum is scheduled for June 23.

Richard Baker | Getty Images

A new poll by The Guardian and ICM shows 53 percent of those surveyed favor leaving the EU.

Dave Donabedian, chief investment officer of Atlantic Trust, believes the market volatility will continue up until the vote, and shortly thereafter if it is a leave vote.

However, the decision will not be a major factor in the performance of the U.S. stock market this year. Instead, earnings will be key.

"We're in an earnings recession now and the expectation is we'll come out of it in the second half of the year. Whether or not that happens is going to be a much bigger driver for equity prices here than Brexit," he told "Power Lunch."

He's focused on noncyclical sectors, like information technology services and health-care services.

Roddy likes Advance Auto Parts and Disney.

Disclosures: Rockland Trust owns AAP and DIS for clients. Roddy's owns AAP and DIS.

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