A trader works on the trading floor at the New York Stock Exchange (NYSE), January 5, 2023.
Andrew Kelly | ReutersComparison chart of U.S. stocks versus European and global peers.
"However, if the macro situation in the U.S. were to deteriorate more, history suggests the decoupling between the two markets may not last long."
Places like Germany, northern Europe, so I think these again are some of the little factors people have forgotten," he said.
"Tourism, again, a big plus for Europe, and then finally the fact that European assets have been undervalued and under owned for some time."