Stocks rallied ahead of the Federal Reserve's highly awaited meeting and rate decision this week. Victoria Bills, Chief Investment Strategist at Banrion Capital Management, joined Yahoo Finance Live to share her outlook.

Bills described feeling "very bullish" amid positive tech earnings reports. She noted that "a lot of market sentiment... has been around rate cuts." However, Bills cautioned that rate cuts may not materialize the way investors hope, pointing to macroeconomic data indicating the economy remains "under control" for now.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith

Video Transcript

JOSH LIPTON: We've been talking about different kind of-- kind of different headline-making events, Victoria, this week. I want to start on earnings though and we're waiting for big tech. There I'm interested, Victoria, so far during this earnings season, interested to get your take. What have you heard, and what do you make so far of what companies have been reporting?

VICTORIA BILLS: Yes. First off, thanks so much for having me, Josh. In terms of earnings and reportings, I'm very bullish on what we're seeing in terms of the tech companies that are coming out right now. I'm-- like in particularly, like we've been following a lot of the larger sector headlines in terms of technology stocks that are releasing. But I think one of the main focuses that I'd be interested in or interested in talking about today is not just like how markets are doing overall, but also personally just how we believe that like the Fed is going to be impacted by some of the market movements that we're seeing if at all.

JULIE HYMAN: So what do you think? How is-- we were talking about this a little bit earlier in the show, Victoria, that our question, and really Josh's question, was sort of, are we going to see Jay Powell come out and try to tamp down some of the equity market enthusiasm when we hear from him this week?

VICTORIA BILLS: So I think that that's definitely some of the sentiment that we'll be seeing from the Fed and from Jay Powell this week. A lot of market sentiment, particularly has been around rate cuts and the necessity for that to tamper down some of the CPI or some of the kind of consumer-based like enthusiasm that we're seeing. But I think one of the other key aspects that we need to keep in mind about why exactly, I think, for example, rate cuts may not necessarily be in the future of the Fed is that for the most part, based off of the macroeconomic data that we're seeing, things seem to be a little bit under control.

Yes, we do have some very high CPI numbers at play. But so long as we continue to see inflation coming under control on top of that full employment, I don't think we're going to necessarily see that rate cuts that investors are really looking forward to.