U.S. equities have been moving higher since President-elect Donald Trump's surprising victory. While many have been referring to the market's moves as a Trump rally, Luschini believes it is just a coincidence.
"The economic underpinnings are supportive for corporate profit growth and a fertile climate for that earnings picture to brighten in 2017 and equities are lurching ahead in advance of that," he said.
Margie Patel, senior portfolio manager with Wells Fargo Asset Management, thinks thebull market
is certainly going to continue thanks to lower tax rates and a friendlier business environment once Trump takes office.
Plus, there has been slow, steady progress of getting people employed, she told "Power Lunch."
"That says to me that the market could go a long way, even if we have interest rates a little higher. I don't think it will have an effect at all on a higher stock market, better corporate profits," said Patel.
She believes one sector that should make money in this investment environment are shale-related energy plays. She also likes consumer staples and discretionary, as well as technology.
Luschini says small- and mid-cap stocks will benefit with the better economic growth and tax reform in the U.S. Meanwhile, larger multinationals could struggle with the possibility of a stronger dollar and weaker economic growth outside the U.S., he said.