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

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{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803}, whereas the Dow Jones Industrial Common misplaced 164.62 factors, or 0.5{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803}. The blue-chip index had, at one level, been down 586 factors.

The tech-heavy Nasdaq overcame an intraday decline of 1.7{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} 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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