Expect a step up in volatility in the second half as a result of interest rate hike uncertainty, said Patrick Morris, portfolio manager for the Hagin Keystone Market Neutral Fund. Morris said the VIX will remain historically low, nevertheless, he said spikes like the one seen today in the so-called "fear index" will be more frequent in coming months. He advised worried investors to seek protection in high quality, market neutral funds like his own. Finally, Morris said oil at $100 a barrel is good for energy producers, but will hurt the economy - and energy stocks - if it moves too much higher.
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