Here’s the main reason the market will keep rallying, according to PNC

Bill Stone believes that while investors are focused on what awaits President Donald Trump now that he's returned to Washington, the market rally will still continue, thanks to strong fundamentals that he expects will carry through the year.

In another week in which the S&P 500 Index hit new all-time highs, PNC Asset Management's global chief investment strategist laid out the factors that he expects can send the market even higher. On Friday, markets slipped slightly after seeing one straight week of gains.

"We'll still likely see good [earnings] growth rates for the rest of the year," he said Thursday on CNBC's "Futures Now." In addition, the U.S. economy "is probably going to be picking up here."

First quarter economic growth "was very weak, but we think you're going to end up with 2.4 percent growth rate GDP in the U.S.," he added.

And thanks to the positive economic outlook coming out of the U.S., Stone also thinks that part of the reason why stocks will keep rallying is the Federal Reserve. As a result of expected rate hikes, the market has already priced in tighter monetary policy for this year , which should mean higher returns for investors.

Last week's Fed policy setting minutes essentially cemented the probability of a rate hike in Jun. Stone told CNBC it's not out of the question that the Fed could raise again in December.

But until then, Stone says that it's safe for investors to keep getting into stocks. He mentioned that he sees the tech sector "broadening out" for even more upside in the future, implying that more record highs could be ahead, thanks to big-cap tech.