Forget Greece and China because according to market analyst Peter Boockvar, there only two things investors should be focused on right now: earnings and interest rates.
"Earnings growth has slowed to almost nothing, profit margins have topped out and I think that's going to be a growing focus of market participants," Boockvar said Tuesday on CNBC's "Futures Now."
And even though Boockvar expects second-quarter earnings to largely beat expectations, he doesn't consider it a positive sign for stocks. "Around 70 percent is the normal beat rate, so if we get that we should stay in line for the quarter," he said. "I would use that line at 70 percent as a gauge to dictate if it's good or bad."
But perhaps more so than earnings growth, Boockvar said investors should turn their attention to what's been happening to the yield curve.