economy
Tom Lee says it's 'very probable' stocks will sail past 7,700 this year
The S&P 500 closed at another record high on Monday as investors look past several headwinds, including the Iran war, according to Tom Lee.
TL;DR
- Tom Lee predicts the S&P 500 will surge past 7,700 this year.
- Investors are expected to overlook threats such as the Iran war due to economic strength.
- A strong earnings season, with over 89% of firms beating estimates, supports market growth.
- Artificial intelligence is showing signs of driving productivity and business growth.
- Underwriting for private credit appears stable despite earlier industry concerns.