After the October jobs report added to the mixed picture of the US economy just ahead of the presidential election and the November Federal Reserve meeting, US Bank Wealth Management senior investment strategist Rob Haworth joins Seana Smith and Brad Smith on Morning Brief to discuss his market outlook.
"We're thinking more volatility next week, particularly, as the election goes because ... It's unlikely we get a result Tuesday night. That may extend for some time. The Fed meeting is [on] Thursday instead of Wednesday. We'll have to see what the Fed does," Haworth says, adding, "They'll probably cut by just a quarter and set themselves up for maybe another cut in December, depending upon the economic data continues to unfold, especially as we get through the weather and strike-related data."
The strategist says, "We're kind of bracing for more market volatility as we look ahead. We're staying neutral in our portfolios, looking for those opportunities to arise because we think they very well could... A lot of data coming our way that we really need to ingest probably means more volatility but also more opportunity for investors."
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