Cindy Ord/Getty Images Stocks are set to move to record highs as investor disbelief in the current market rally shows no signs of abating, according to Fundstrat's Tom Lee. In an interview with CNBC's Scott Wapner on Friday, Lee explained that he is still hearing a lot of investor skepticism from clients as the S&P 500 flirts with record highs. That, combined with $5 trillion in cash sitting on the sidelines, sets the stage for stocks to make a "vigorous move" higher, Lee said. Lee boosted his year-end price target for the S&P 500 to 3,525 from 3,450, representing 5% upside potential from current levels, and said the rally will be in part driven by "epicenter" stocks. Visit Business Insider's homepage for more stories. Despite the S&P 500 index knocking on the door of all-time highs, investors continue to show signs of disbelief and are not embracing the current market rally. That's according to Fundstrat's Tom Lee, who said in an interview with CNBC's Scott Wapner on Friday that stocks are set for a "vigorous move" higher thanks to investor skepticism and $5 trillion sitting in cash.See the rest of the story at Business InsiderNOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first timeSee Also:A Wall Street investment chief says the relentless surge in big tech stocks is headed for an abrupt ending — and warns it could sink the entire market by 40%MORGAN STANLEY: Buy these 9 top-rated stocks right now for market-beating returns of 15%-plus over the next 3 monthsFred Liu's Hayden Capital has returned more than 100% in 2020.
A 'vigorous Move' Will Push Stocks Another 5% To Record Highs Before Year-end — And It'll Be Driven By Skeptical Investors Who S
mfox@businessinsider.com (Matthew Fox), Business Insider
Sun, 08/16/2020 - 5:30am
Topics: cindy ord/getty images stocks visit business insider business insidernow watch july tax day wall street stanley liu's hayden capital lee lee fundstrat's tom lee cnbc's scott wapner s&p year-end driven investors vigorous move record highs market rally current disbelief set trillion signs sitting friday interview skepticism higher
BING NEWS:
- 3 post-election reasons why stocks will rise into year-end, Goldman says
The S&P 500 can add to record highs ... year-end returns during election years. Historically, the S&P has generated a median return of 4% between Election Day and the year's calendar end, Goldman said ...
11/6/2024 - 1:46 pm | View Link - More
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