Power Play: U.S. vs. global markets
The major averages are down again Wednesday and are off more than 5 percent year-to-date. Despite this drop, the U.S. may still be the best place for investors looking to buy stocks.
LPL Chief Investment Officer Burt White tells CNBC's "Power Lunch" he continues to favor the U.S., even with the potential for improvement in economic growth and attractive valuations in international equities.
"Short-term, technical weakness suggests caution; accordingly, for now, we hold very little exposure to developed international and emerging markets," White said.
For now, White recommends a tilt toward large-caps.
He likes technology and health care in this environment.
"Health care is very attractively valued, fits where we are in the business cycle (last three innings). Tech is relatively attractively valued too, and we think the earnings growth will compare favorably to the broad market (growth works when growth is scarce)," White said.
Tech and health care are both lower during trading.