Fundstrat’s Tom Lee Doubles Down on Three Stock Sectors for 2nd Half of Year, Names Equity Group Set To Surge Once the Fed Starts Cutting Rates
Fundstrat co-founder and managing associate Tom Lee is doubling down on his bullish predictions for sure shares this 12 months.
In a question-and-answer unique with the World Cash Speak YouTube channel, Lee says that at the beginning of the 12 months, Fundstrat predicted that industrials, financials and tech would outperform the broader US inventory market.
Lee notes that industrials and financials have to date outshone different sectors, with tech now additionally coming to life. In response to Lee, Fundstrat sees the three sectors main the fairness marketplace for the remainder of the 12 months.
The Fundstrat govt additionally thinks that one fairness group will see extra demand subsequent 12 months, a time when he thinks the Federal Reserve will start to chop charges.
“With the Fed slicing charges subsequent 12 months, I feel that’s going to be good for interest-sensitive [stocks]. So that ought to actually help financials and it ought to help small and mid-caps.”
Turning to cryptocurrencies, Lee says that if the market cap of stablecoins – or digital property pegged to different property similar to fiat currencies and treasured metals – erupts, so would Ethereum (ETH), as most stablecoins are constructed on ETH.
“Stablecoins are being pushed by the USA authorities. Right here’s the factor. Circle (USDC) runs on Ethereum. Stablecoins run on Ethereum. In order stablecoins explode, Ethereum is the spine for stablecoins. So I feel Ethereum goes to make an enormous comeback as effectively.”
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