Tom Lee says shares could also be primed for an enormous rally. Here is why

Tom Lee, Fundstrat World Advisors

Scott Mlyn | CNBC

Tom Lee instructed CNBC on Wednesday he sees situations out there that would assist spark a rally in shares, so long as the U.S. financial restoration from the coronavirus pandemic persists.

Lee’s feedback on “Closing Bell” got here shortly after a wild session on Wall Road through which the main fairness indexes completed properly off their intraday lows. The S&P 500 closed down 0.3%, whereas the Dow Jones Industrial Common misplaced 164.62 factors, or 0.5%. The blue-chip index had, at one level, been down 586 factors.

The tech-heavy Nasdaq overcame an intraday decline of 1.7% to complete principally flat Wednesday.

Lee, co-founder and head of analysis at Fundstrat World Advisors, mentioned a key cause he sees upside potential for shares is the amount of cash that might be deployed.

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