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2015 earnings will be OK, and here's why: Expert

Pro: 2015 Earnings won't be so bad

Corporate earnings for 2015 will be positive despite the bearish sentiment surrounding them, Mike Ryan, chief investment strategist at UBS Wealth Management, said Wednesday.

"I think what you're going to see [in first-quarter earnings] is transitory factors. A lot of it is related to the decline in energy prices [and] strength in the dollar. Those tend to be factors investors look through as they look at the corporate earnings." Ryan told CNBC's "Squawk on the Street."

U.S. oil prices have dropped nearly 43 percent in the last year amid increasing volatility. West Texas Intermediate crude was down more than 5 percent at $50.94 a barrel midday Wednesday after ending the previous session up 3.5 percent.

The dollar, on the other hand, has gained about 10.5 percent against the euro as the European Central Bank furthers its 1.1 trillion euro ($1.2 trillion) quantitative easing campaign. The greenback was down slightly against the common currency in midday trading.

"We're looking for the full year for earnings to be up about 4 percent. The market is going to increasingly price in what we see in 2016, and our [earnings forecast] for next year is up about 11 percent. When we look at this, it is mostly related to headline issues," Ryan added. "We don't think the underlying momentum of earnings has been disrupted."

The economy's not 'that bad'

Despite the recent economic data and the Federal Reserve's apparent hesitation to raise rates, Ryan said he thinks the economy is still strong.

"I don't think the economy is that bad. I think what you've seen from the Fed is they're going to be incredibly pragmatic in their approach," he said. "They don't want to undermine the effort that has gotten them to this recovery. So, while we've had soft data, we have to remember we've had soft periods before. ... If you look at each six-month period, what we've seen is better progressive growth."

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Last week, March nonfarm payroll numbers came in at 126,000, well-below the estimated 248,000.