BMO Capital Markets recently increased its target for the S&P 500 (^GSPC) to 5600, the highest forecast on Wall Street. The Dow Jones Industrial (^DJI) recently crossed 40,000 in an all-time record, with some on Wall Street confident the rally can continue. Is the bullish sentiment a little too optimistic, or is this moment the beginning of a strong rally?

BMO Capital Markets Chief Investment Strategist Brian Belski joins Catalysts to discuss how the broader market can continue to rally to new record heights.

Belski explains what elements of the current economic landscape give his bullish stance credence: "Given what we're seeing in earnings, given what we're seeing and hearing from what the Fed is going to do, and we think equities now are becoming an increasingly important part of people's asset mixes, especially considering what's gone on in the bond market, in the unwind of what we like to call the 40-year bull market in bonds, we think that there's more upside."

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Nicholas Jacobino