A Donald Trump victory sent stocks higher the day after the presidential election, but noted market-watcher Peter Boockvar warned that the direction of the market will really hinge on the direction of interest rates.
"The question is how do equity prices respond to the rise in interest rates when the last five years they've been medicated on low interest rates?" the chief market analyst with The Lindsey Group said in an interview with CNBC's "Closing Bell" on Wednesday.
Despite predictions of a sell-off on a Trump win, the stock market soared Wednesday after the Republican nominee's surprising victory. The Dow Jones industrial average came within striking distance of record highs, closing up about 250 points.