A combination of earnings and the Federal Reserve's latest monetary policy outlook provides investors with a bullish case for stock, the CEO of Richard Bernstein Advisors said Friday.
"The secular bull market is still intact," Richard Bernstein told CNBC's "Squawk Box." "The Fed just told us they're basically on hold for at least the short term here. The profit cycle looks like it's troughing. That's a nice combination, and I think we live happily ever after."
The central bank kept interest rates unchanged at its Wednesday policymaking meeting, and scaled back on the times it expects to raise rates this year from four to two.