Pa. Industries May Feel Short-Term Impact of Stock Market Drops

Written by on March 10, 2020

Pa. Industries May Feel Short-Term Impact of Stock Market Drops

By WLVR Staff

March 10, 2020

Stocks and bond yields tumbled yesterday as an oil war broke out in the middle of the viral outbreak that’s beset markets for weeks.

In Pennsylvania, one expert says he thinks the state’s energy industry and publicly-traded companies will weather the storm.

Lehigh Valley financial adviser Gene Dickison, host of PBS39’s “More Than Money”, says he doesn’t expect to see decreased production of natural gas in the state.

“I think this is going to be a relatively short-term issue, rather than a protracted fight so to speak,’ said Dickison.

Dickison says Pennsylvania-based companies like Dicks’ Sporting Goods, Hershey and Comcast could be impacted by market volatility in the short term.

“They’re not made of teflon, if the water sinks, the boats are going to drop. Now how long they’re going to drop, and how quickly they’re going to recover, is going to be a function of both the economy and how well they respond,’ said Dickison

Working in the companies’ favor – Dickison says they’re well-managed and produce quality products. 

And for those reasons, he says they’re likely to fare well in the long term.

Watch the full interview with Dickison.


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