There are a lot of tailwinds for the stock market right now, hedge fund manager Dan Arbess told CNBC on Friday.
Arbess, a partner at $11 billion Perella Weinberg, listed three reasons in a "Squawk Box" interview: "Growth is accelerating in the economy. We've got accommodative [monetary] conditions, and a big start to the year for M&A. These are all good things in my view for the equity markets."
Read MoreM&A fever—the coming epidemic
Mergers and acquisitions volume is pacing at the highest levels since 2007, according to research firm Dealogic. Pfizer's $106 billion offer for U.K. rival AstraZeneca as well as Comcast's $45 billion bid for Time Warner Cable are just two announced deals that epitomize the recent activity.
Arbess doesn't expect that to slow down anytime soon. "I think you're going to see more M&A over the course of this year. And M&A creates great opportunities for investors."
Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.