Despite the recent mixed economic data, including a dip in consumer sentiment and spending, employment numbers remain strong, which may allow the Fed to continue tightening its monetary policy.

“The Fed is key,” Sam Stovall, chief investment strategist at CFRA Research, told the Wall Street Journal. Stovall believes it is likely the Fed will raise rates at its June 13-14 meeting, but that shouldn’t be “any kind of deterrent at all to the advance in equity prices.”

Tighter rates may help head off an overheating economy, but more importantly, many investors view rising rates as a vote of confidence in the U.S. economy, especially if the Fed moves at a gradual pace. Higher rates may also help strengthen some sectors, notably financial companies that profit off wider spreads.

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