Tom Lee says stocks could be ready for a big rally. here’s why
Tom Lee, Fundstrat Global Advisors
Scott Mlyn | CNBC
Tom Lee told CNBC on Wednesday that he sees market conditions that could help trigger a rally in stocks, as long as the US economic recovery continues. Coronavirus pandemic persists.
Lee’s comments on “Closing bell” came shortly after a crazy session on Wall Street in which the major stock indexes ended far from their intraday lows. the S&P 500 closed 0.3% lower, while the Dow Jones Industrial Average lost 164.62 points, or 0.5%. The blue chip index had, at one point, fallen by 586 points.
The techie Nasdaq weathered a 1.7% intraday decline to end flat on Wednesday.
Lee, co-founder and head of research at Fundstrat Global Advisors, said a major reason he sees upside potential for stocks is the amount of money that could be deployed.