Based on the record breaking year we experienced in 2020, and the mass distribution of COVID-19 vaccines expected for the coming months, we are cautiously optimistic for the economy and the stock market in 2021. Economic predictions include a moderate recovery in the first half of the year, with a bigger upswing in late 2021. This would lead to economic growth rates of approximately 3-5 % in the United States. The recent rally for U.S. and international markets reflects this stronger growth outlook, which dampens our expectations for market returns in 2021. Most economists are predicting positive single-digit returns for stocks this year to offset the big recovery we experienced in 2020.
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