US Markets

What does the market expect from Super Tuesday?

How Super Tuesday outcomes can hurt the market: Pros
How Super Tuesday outcomes can hurt the market: Pros

The market rallied ahead of Super Tuesday, but two things remain unclear: how the results affect stocks and what equities are looking for.

"Clarity is what the market wants," Art Hogan, Wunderlich Securities' chief market strategist, told CNBC on Tuesday. "We started out with 16 choices on the Republican side; we are down to five, perhaps we get down to three after Super Tuesday," he said in an interview with "Power Lunch," adding that it's still "not enough clarity."

Hogan highlights that Super Tuesdays have been important for the market when the results are clear. He noted, however, that the Republicans' lack of consolidation makes it difficult for market watchers to gauge the future. In contrast, the strategist thinks the Democratic Party will tell "half the picture."

But more than clarity, Erik Ristuben of Russell Investments told "Power Lunch" on Tuesday that the market cares about certainty. The chief investment strategist foresees that Donald Trump will most likely become the Republican nominee, but the candidate's intentions remain murky.

Looking ahead

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"I think everyone is uncertain as to how he will actually govern [and] what his policies will be," Ristuben said. Conversely, he thinks that Democrat Hillary Clinton offers "more certainty around her programs."

Despite election outcomes, Ristuben contends that Washington, D.C., is "gridlocked and will probably remain gridlocked." This will challenge the next administration's ability to implement meaningful policies, he said.

"I could be wrong, but right now trying to price that into stocks is probably not the best way to go," Ristuben said. "Look at fundamentals and the fundamentals are good for stocks right now."

All major averages rose more than 2 percent Tuesday, as oil prices climbed and manufacturing data was better than expected.

— CNBC's Evelyn Cheng contributed to this story.