WATCH: Stock picks — Standard Bank and Nasdaq ETF

Wayne McCurrie from FNB Wealth and Investment chose Standard Bank as his stock pick of the day and David Shapiro from Sasfin Securities chose a Nasdaq exchange traded fund (ETF).

McCurrie said that domestic shares represented value now as they had been pummeled.

“These companies will still grow their earnings and so will the South African economy, despite the bad news and economic challenges,” he said.

Shapiro said that a new earnings season would begin in the US as Friday was the end of the month and end of the half year. There is a Nasdaq ETF available that he prefers to the S&P.

“It is going to be another bumpy year in a strong economy,” he said.

Source: businesslive.co.za