Strategist sees S&P 500 reaching 4800+ by year's end

STORY: A two-day relief rally in equities ended on Tuesday as investors took note of profit margins being squeezed by supply issues worsened by the Ukraine war and soaring inflation that has forced consumers to cut discretionary spending.

"We think there's room for a recovery as we get through some of our struggles this year," said Haworth, referring to Federal Reserve interest rate increases and the Ukraine war.