Stock market has already 'priced in' recession -portfolio manager

STORY: U.S. stocks rose on Friday, a day after a sharp sell-off as investors grappled with a likely recession on the heels of rate hikes by multiple global central banks seeking to tame rising inflation.

"I think that we are nearing the bottom," said Coons. "We see fair value on the S&P 500 right around 3,500."