» The record-setting stock market has further upside ahead with depressed consumer confidence spring-loaded for a recovery, says a Wall Street chief strategist The record-setting stock market has further upside ahead with depressed consumer confidence spring-loaded for a recovery, says a Wall Street chief strategist Ben WinckFeb 14, 2021, 20:53 IST Drew Angerer/Getty Images James Paulsen, chief investment strategist at The Leuthold Group, said. Vaccine distribution and fresh stimulus stand to lift spirits among everyday Americans in the coming months. History shows that broad market strategies outperform the S&P 500 when sentiment improves, Paulsen said. The stock market's next leg up will have more to do with Main Street optimism than Wall Street bullishness, according to James Paulsen, the chief investment strategist at The Leuthold Group.