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After a wild ride for the markets this yea, the
SPDR S&P 500 ETF Trust (NYSE: SPY) is on track to finish 2020 up 13.5% on the year. Given the ongoing pandemic, the stock market seems to be pricing in a lot of optimism about 2021, but Commonwealth Financial Network chief investment officer Brad McMillan said Friday that there’s plenty of room for additional upside for the S&P 500 in 2021.
In his 2021 outlook note, McMillan said there are plenty of things to both love and hate about the market going into 2021, but investors seem to be focusing on optimism given the strong rally since Election Day.