The next big catalyst for stocks might be key inflation data that's due on Thursday.
Investors should turn their attention to alternative investments including small caps and emerging markets outside of the 'Magnificent 7' stocks, according to Richard Bernstein Advisors chief Richard Bernstein.
'There's no sound wealth building strategy that says put all of your eggs in seven stocks, there has to be some opportunities outside the U.S. and in some smaller cap stocks,' Bernstein told CNBC's ' Power Lunch ' on Tuesday. 'It's such an amazing bearish view of the world to say there's only seven companies we can invest in,' he added. — Brian Evans
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