Though tensions are high due to the ongoing Russia-Ukraine crisis, not everyone is bearish. According to Brian Belski of BMO Capital Markets, the benchmark S&P 500 would rise to 5,300 by the end of the year. Additionally, Belski doesn’t think a recession is on the horizon.
In addition, the U.S. economy posted its strongest growth in almost four decades in 2021, on the backs of the government’s pumping of nearly $6 trillion for COVID-19 relief. The U.S. economy grew 5.7% in 2021. Pointing to the strength of the underlying economy, job growth in January exceeded expectations.
