Altman: US Market Resilient Despite Iran War and High Energy Prices

Evercore founder Roger Altman is confident in the resilience of the US market, saying that recent headwinds such as the Iran war and high energy prices are not enough to destabilize it.

The strong earnings growth, with 86% of S&P 500 companies beating consensus estimates, making it the strongest quarter in five years, is a key factor in this resilience, Altman noted.

Altman also highlighted the comments made by Federal Reserve Chair Kevin Warsh on the U.S. economy, calling them 'striking'. Warsh emphasized that economic activity is expanding at a solid pace despite heightened uncertainty stemming from the Middle East conflict.

However, Altman cautioned that no one knows if the astronomical capex on AI will earn a satisfactory return, citing concerns about the return on these investments.