After two years of disappointing economic surprises, there are signs of a turnaround ahead, closely followed strategist Jim Paulsen said Thursday.
And that's a reason to be bullish on the stock market, the chief investment strategist for Wells Capital Management told CNBC's "Power Lunch."
In fact, he believes stocks are heading for new record highs in the near term, with the S&P 500 possibly reaching 2,200 before the year is over.
"Economic surprise indices have been steadily rising," he said, noting that there have been good reports this week leading up to Friday's highly anticipated jobs report.
"I think that we're going to find out that we've been underestimating economic growth here in the United States."