Top-ranked Barron's advisor on investment strategies amid the coronavirus and market volatility

Greg Sarian, CEO of Sarian Strategic Partners and one of Barron's Top 100 Advisors, says investors should prepare for more volatility, and discusses some tax strategies to employ as stock prices are still lower.

Stocks were flat on Wednesday after back-to-back gains as investors weighed the prospects of reopening the economy along with a dismal report on U.S. payrolls.

The Dow Jones Industrial Average traded 7 points lower, or 0.03%, after jumping more than 100 points. The S&P 500 was up just 0.1%. The Nasdaq Composite outperformed, advancing 0.7%.

Big tech stocks such as Facebook and Netflix rose 1.4% and 2.3%, respectively. Amazon and Alphabet each rose 0.8% while Apple traded 1.7% higher.

Stocks were also kept in check as crude prices reversed course to trade more than 4% lower. West Texas Intermediate futures were coming off a five-session winning streak and are up about 28% for May. Those losses in oil prices led to a 1.4% drop in the S&P 500 energy sector. Occidental Petroleum, Marathon Petroleum and National Oilwell Varco all dropped more than 2%.

President Donald Trump acknowledged on Tuesday that “there’ll be more death” from coronavirus but argued that not reopening businesses would also cost people their lives in other ways such as drug overdoses and suicides.

California will permit clothing stores, bookstores and flower shops to reopen for curbside pickup as soon as Friday while New York plans to ease restrictions on manufacturers, construction, and select retailers next week. This easing of restrictions has led investors to bet that the economy will restart in the near future.

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