Microsoft Azure Certification Training

Stocks could hit record highs this summer on cautious investor positioning and better-than-expected COVID-19 data, Fundstrat’s Tom Lee says

The stock market has been resilient amid rising COVID-19 cases in the US, suggesting that investors had been “bracing for a more dire path regarding COVID-19,” Tom Lee said in a note published on Monday.
That, combined with cautious investor positioning toward equities, means the stock market is in “risk-on” mode and could hit record highs this summer, Lee said.
With mutual funds holding elevated levels of cash, and hedge funds turning bearish in June, investors should remain overweight stocks, Lee concluded.
Visit the Business Insider homepage for more stories.

A resilient stock market amid a surge in COVID-19 cases and cautious investor positioning toward stocks suggests the S&P 500 index could hit record highs this summer, according to a note published by Tom Lee’s Fundstrat on Monday.

Lee said markets have been “bracing for a more dire path regarding COVID-19,” which despite the rising infections has yet to see a sustained increase in hospitalizations and fatalities.See the rest of the story at Business Insider

NOW WATCH: Why American sunscreens may not be protecting you as much as European sunscreens

See Also:

A Wall Street investment chief dispels the notion that surging stocks are disconnected from the economy — and lays out 3 reasons why the market will continue to climb over the next yearThe most accurate analyst covering e-commerce says these 7 stocks will be among the biggest winners of the shift to online shoppingEd Hyman was named Wall Street’s best economist 39 times and called the tech bubble. He outlines 3 market drivers that are aligning for investors looking to capitalize on coronavirus chaos.

To discover more visit: feedproxy.google.com

Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.