A recent article in CNBC.com shares insights from the president of Yardeni Research, who says he does not expect increased geopolitical concerns to hurt the stock market this year.

On CNBC’s Trading Nation, Yardeni explained that, while tax cuts have made the economy stronger, President Trump’s protectionist policies are “creating a lot of market anxiety.” He added, “A lot of what’s going on is noise. There is still money to be made in this market.” In fact, Yardeni predicts a year-end price target for the S&P 500 of 3100, up by about 13 percent from current levels, the article notes. He believes that cyclical groups will contribute to the increase, and is particularly optimistic about consumer discretionary, industrials, financials and tech.

“Earnings are just fabulous,” says Yardeni, who asserts that small-caps are “on fire, at record highs, because they are not as exposed to the global economy in currency and protectionism.”