Markets will end higher by December, although volatility will remain along the way, said Steve Auth, equities CIO at Federated Investors.

"We think we're about to break out here," he told CNBC's "Power Lunch" on Thursday. "On average we're kind of beating reduced expectations."

Auth explained at the markets had been trading sideways for the last four to five months due to worries about the dollar, interest rates, oil, economic data and weak earnings. "All of those things are behind us now," he said.

Read More The strange reason to avoid tech stocks this week