Markets rise as fundamentals seen strong but further turbulence possible

Markets rose on Friday.

The S&P 500 finished barely higher but the STOXX Europe 600 jumped 1.1 percent and the Nikkei 225 surged 1.2 percent.

Fiona Cincotta, market analyst at City Index, said in a note that the rebound in stocks shows that “the market has quickly adjusted to the prospect of higher future inflation and a more hawkish Fed”.

Wayne Kaufman, chief market analyst at Phoenix Financial Services, said that the “fundamentals remain strong and people are responding to that.”

Mark Martiak, senior wealth strategist at Premier Wealth/First Allied, said that “fundamentals will rule the day and that the recovery is sustainable”.

However, Jim Paulsen, chief investment strategist at The Leuthold Group, is more cautious.

“I think there's going to be more turbulence at some point this year,” Paulsen told CNBC on Friday. “I think we could have a 15 percent correction.”