After a week of tweets by President Trump on Israel, China threats on trade, an inverted yield curve that triggered an 800 point selloff on the Dow Jones on Wednesday, confirmed European economic weakness and a heated trade dispute between Japan and South Korea, this is what Tom Lee said to the press.
“We have been saying this is a buying opportunity and back up the truck,” Tom Lee, Fundstrat Global Advisors’ head of research, said in a note Friday. “But history and even global comparisons show that the S&P 500 should rally. We realize there are many reasons to tilt bearish — don’t forget the White House wants higher stock prices. The Fed does not want stocks to fall. And US consumer may not be paying much attention to inverted yield curves.”
When we have a week of pure confusion in global markets, expressed in the hyper volatility we saw last week, read what Fundstrat Global Advisors is publishing. Tom and his team shut out the the political theater and market noise and identify the key factors that are driving equity indices.