Earnings, Not the Fed, Are Driving Stocks: UBS's Lovell

Nadia Lovell, head of global equity strategy at UBS Global Wealth Management, said earnings growth should support stock gains despite near-term volatility from rising rates. "What's gonna drive this market is earnings. It's not valuation expansion," Lovell said on Bloomberg Surveillance. She attributed the outlook to strong earnings and broadening profit growth across equities.

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