The performance of underlying stocks in the major indexes re...

The performance of underlying stocks in the major indexes remain at a healthy level, according to Kevin Gordon, senior investment strategist at Charles Schwab.

“I think that’s actually probably the key for the second half of the year,” Gordon said on CNBC’s “Closing Bell” on Monday. “If you can keep above two-thirds of members in the S&P and the Nasdaq that are above their 200-day moving average, I think that would still be a relatively healthy setup as we go through the softer patch of economic data, as you get through a little bit more clarity for where the Fed is going, and what the actual timing of rate cuts looks like.”

Federal Reserve Chair Jerome Powell speaks Tuesday at 9:30 a.m. ET before a policy panel at the European Central Bank Forum. The central bank leader will be part of a panel discussion and will not be issuing prepared remarks beforehand. He will join ECB President Christine Lagarde and Roberto Campos Neto, governor of Brazil’s central bank. CNBC’s Sara Eisen will moderate.