Halftime Report

Monday - Friday, 12:00 - 1:00 PM ET
Fed aside, fundamentals support these stocks: Strategist

Investors will be closely watching Thursday's Federal Reserve decision for what could be the first interest rate hike in nearly 10 years.

If they do something it really sets the clock in motion at this point," said Andrew Burkly, Head of Portfolio Strategy at Oppenheimer Asset Management. "You're looking at a stronger dollar environment and a higher rate environment and those are trends you want to play," he added.

Profiting from the Fed decision

Burkly's strategy is to buy stocks that not only benefit from higher interest rates but also display strong fundamentals and positive earnings revisions.

"Refining stocks like Valero and HollyFrontier are actually benefiting from lower input costs with crude so as long as the economy is still doing well these are the better plays in the energy space. They also benefit from a stronger dollar."

Why Amazon wins

Amazon.com is one the best performing stocks in the S&P 500 this year. Shares are up nearly 70% YTD.

"Wall Street analysts are getting bullish on Amazon. It's turning into an earnings revision storythis year," said Burkly.

Big bank, big value

"Bank of America is a value play with a pretty good yield at this point. It's trading at the lower end of the range and the valuation is attractive. Rising rates will help them."

Burkly oversees $87 billion in asset under management.