Earnings, Not the Fed, Are Driving Stocks: UBS's Lovell
Nadia Lovell of UBS Global Wealth Management states that strong corporate earnings and profit growth are the primary drivers for rising stock prices. While rising interest rates may cause short-term volatility, Lovell argues that market performance is rooted in earnings rather than valuation expansion.
Nadia Lovell, head of global equity strategy at UBS Global Wealth Management, says strong earnings and broadening profit growth should keep stocks moving higher even as rising rates create near-term volatility. “What’s gonna drive this market is earnings. It’s not valuation expansion,” Lovell says on “Bloomberg Surveillance.” (Source: Bloomberg)
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