Altman Says US Market Resilient Despite Headwinds

Evercore founder Roger Altman believes the US equity market is resilient and has been shrugging off headwinds such as the Iran war, high energy prices, and slightly elevated interest rates.

In an interview with CNBC, Altman pointed to strong earnings growth and consumer spending as evidence of a healthy economy. He noted that 86% of S&P 500 companies have beaten consensus estimates, making it the strongest quarter in five years.

Altman also highlighted comments made by Federal Reserve Chair Kevin Warsh on the US economy, which he described as 'striking'. While Warsh is known as a real inflation hawk, Altman emphasized that strong consumer spending and business investment are underpinning the market.