Markets are 'hyper-focused on the labor market' this week
With volatility (^VIX) seeping back into markets (^DJI, ^IXIC, ^GSPC) ahead of the US election and ongoing geopolitical tensions, it may prove difficult for investors to find stable footing for their portfolios.
Wells Fargo Investment Institute global investment strategist Veronica Willis joins Wealth! to give insight into how investors should be thinking about their portfolios around upcoming economic data and labor prints, namely this Friday's jobs report for the month of August.
"Right now, focusing on a little bit higher quality in both the fixed income and the equity exposure, so thinking of being invested in large caps over mid and small caps, is probably good for the near term," Willis details. "We're expecting those large-cap companies to be a little bit more resilient through all of the economic uncertainties that we have coming up over the next few months."
She continues: "Then in the fixed income space, just focusing in on that investment grade over the high yield space, not taking on too much risk as we're expecting that volatility. And then eventually, after the economy has slowed down a little bit and has started to grow into 2025, that's when you can move into some of those higher beta riskier areas."
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