With a Federal Reserve meeting and vote on whether the U.K. will leave the European Union approaching, markets are dealing with a big dose of uncertainty. Art Hogan, chief market strategist at Wunderlich Securities, says there's no point in gambling on a "seismic event" like a Brexit.
"Why would you make a big bet stepping in front of that?" Hogan told CNBC's "Squawk on the Street" on Tuesday. "I think there's very little that you need to do in front of that, so the market may be in stall-mode until then."
Polls that measure U.K. citizens' likelihood to vote for exiting the European Union, known as the Brexit, have shifted momentum this week. A YouGov survey this week showed 46 percent now support leaving the bloc, while 39 percent support staying. Newspaper The Sun meanwhile, in a recent editorial, urged British readers to leave the European Union.
Hogan and his team at Wunderlich believe the U.K. will remain a part of the European Union, although he said it's too close to call. The U.S. Federal Reserve feels the same way about the vote, he said.
"The Fed's not gonna make a move in a June meeting, notwithstanding a sloppy labor market, in front of a Brexit vote," Hogan said. "Nor should investors."
The Federal Reserve meets Wednesday for a policy meeting and will announce its decision on a June rate hike. Slow job creation in May, with just 38,000 new jobs added for the month versus economists' expected 162,000, according to Thomson Reuters, casts doubt on the chances of a rate hike.
"We need to get through at least this Fed meeting, which I think comes and goes and is a nonevent, and we need to get through the Brexit vote, which I also think will be a nonevent," Hogan said.