'The major indices are continuing to rally based on strong earnings growth,' said Michael Landsberg of Landsberg Bennett Private Wealth Management.
Many are predicting the U.S. Federal Reserve will cut interest rates in the second half of this year. Though CIO Michael Landsberg of Landsberg Bennett Private Wealth Management says the conditions don't justify a cut, he says there might be one. "I think if Chairman Powell had not said, we're gonna get a rate cut, we wouldn't be having these discussions because earnings growth has been really strong.
West Texas Intermediate crude is up around 19% in the year to date, with OPEC+ saying earlier last month that it would extend crude production cuts into 2025. Against that backdrop, Landsberg says, investors should focus on companies generating strong earnings growth. "The major indices are continuing to rally based on strong earnings growth. Earnings growth is the name of the game for this stock market right now," he said in additional notes to CNBC.
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