Altman Touts Resilience of US Market Amid Global Headwinds

Evercore founder Roger Altman is confident in the resilience of the US equity market. Despite headwinds such as the Iran war, high energy prices, and slightly elevated interest rates, Altman believes these factors are not enough to destabilize the market.

Altman pointed to two encouraging trends: strong earnings growth and the fact that 86% of S&P 500 companies have beaten consensus estimates, making it the strongest quarter in five years.

The Evercore founder also highlighted the comments made by Federal Reserve Chair Kevin Warsh on the US economy, calling them 'striking.'

Warsh emphasized strong productivity growth and capital investment, as well as job gains keeping pace with labor force growth. He noted that the Fed does not view strong productivity-led growth as a threat, but rather something to embrace.