Washington drama is just ‘noise on the side’ — here’s why the market has more room to run: Bob Doll

Investors shouldn't be shaken by all the drama coming out of Washington because ultimately, none of it matters to the market.

That's the argument strategist Bob Doll made Tuesday on CNBC's "Futures Now." According to Doll, strong earnings should be enough to keep stocks moving higher, and the trend isn't about to stop, especially because he thinks earnings growth will remain positive for the rest of the year.

"It's a pattern that's existed for years and years, and I don't know why we would repeal that now unless you have something up your sleeve that says we have an earnings problem," Nuveen Asset Management's chief equity strategist said. "I don't see that coming."

And that, according to the strategist, has been the main reason why the equity rally has continued despite the recent events out of D.C. that were seen as threats to the market.

"The stock market is up [about 9 percent] this year, and Washington has done almost nothing but disappoint," Doll said. "So this shows us that the stock market isn't about Washington D.C. That's noise on the side."

Doll, however, did mention that if President Donald Trump's long-proposed tax cuts do eventually make it through, it would still be "good news" for stocks. But the strategist believes the cuts wouldn't be in place until next year.


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