economy
Fundstrat's Tom Lee says the market has bottomed, stocks are headed to all-time highs
The stock market has bottomed, according to Fundstrat's Tom Lee. The firm's head of research detailed his top sector picks.
TL;DR
- Stocks surged on Wednesday due to a U.S.-Iran ceasefire agreement.
- Fundstrat's Tom Lee believes the market has bottomed and is heading towards record highs.
- Lee predicts the S&P 500 will reach 7,300 by the end of the year.
- Key sectors expected to lead the rally include the "Magnificent Seven," software, energy, and financials.
- Ethereum is highlighted as the top-performing asset class since the start of the war.
- The negative correlation between stocks (Mag 7, Ethereum, software) and oil has been high but is expected to ease as oil prices stabilize.