Scott Bauer, CEO of Prosper Trading, offering some perspective and advice on the Stock Market's wild ride the last week.
"The state of the market, the state of people's fortunes, 401ks, IRAs, unfortunately can hinge upon a simple tweet," Bauer shared, "That's something different than what we've seen in market history. I've been a trading professional on the trading floors since 1991...there were reasons why we saw these big volatile moves. But nothing like "Ok, what is on the news headline right now." I think that is really, really difficult for long-term investors and frankly traders to grasp a handle of, and it's something new. This is the world we live in now."
Stocks surged on Wednesday after news of the tariff delays - making up much of the recent losses. The Dow Jones Industrial Average closed up 7.87%, the S&P 500 up 9.06%, and the Nasdaq up 12.61%.
What stocks are on Bauer's radar?
"If you can get beyond the noise of the next several weeks, maybe even next several months, I think you have to look at strongest in their sector. What do I mean by that? A Google, a Microsoft, even NVIDIA that has been beaten up so badly," Bauer shared, "Some of the big banks that have been absolutely crushed, Goldman Sachs, JP Morgan, and then my favorite sector moving forward for the rest of the year is cybersecurity."
See his full interview in the video player above.
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