Fundstrat’s Tom Lee Says FOMO Driving Major Stock Market Rally – Here’s His S&P 500 Price Target

Fundstrat’s Tom Lee says the S&P 500 has room to run.

In a brand new interview with CNBC, Lee predicts the main inventory index might surge to six,800 within the subsequent few months, fueled by price cuts from the U.S. Federal Reserve.

“Individuals all the time discover quibbles with new highs, however we additionally know that for an institutional asset supervisor, it’s not actually excusable to be bearish when the market makes a brand new all-time excessive. So in different phrases, the establishments now have to start out including threat if we’re making all-time highs, as a result of it’s a brand new bull market.” 

Lee says the FOMO (worry of lacking out) commerce is a element of the present market atmosphere.

“It’s merely a reorientation of notion, as a result of the market’s solely at 5% year-to-date, however we could possibly be up 10%, so solely half of the full-year features have been realized, so if somebody had contemporary eyes in the marketplace and is aware of the Fed’s being dovish and tariff dangers are abating and multiples might develop, I feel folks might discover many shares to purchase.” 

The S&P 500 set a brand new all-time excessive final week and is buying and selling at 6,263.26 at time of writing. The index is up greater than 0.6% previously day and greater than 1% previously 5 days.

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