The stock market's upturn Tuesday after two days of post-Brexit sell-offs had many on Wall Street wondering if it was a so-called dead cat bounce.
The Dow Jones industrial average on Tuesday closed almost 270 points higher. On Monday, U.S. stocks extended Friday's plunge with a declines of 1.5 percent or more that took the S&P 500 and Dow to their lowest closes since March 10.
While there is much uncertainty right now surrounding the impact of the U.K.'s vote to leave the European Union, the focus will soon be back on U.S. corporate earnings, said Dan Skelly, head of equity model portfolio solutions at Morgan Stanley Wealth Management.
And he believes that should be good news for the U.S. stock market.
"When you look at first-quarter earnings, we think that we actually saw the trough in this cycle recently," he said in an interview with CNBC's "Power Lunch" Tuesday.