Tom Lee, Fundstrat CEO, says that the S&P 500 still has plenty of room for growth.
Lee, in a recent interview with CNBC predicts that the U.S. Federal Reserve will cut interest rates, which could lead to a surge of the stock market index leading the way up to 6,800 within the next couple months.
It’s not acceptable for institutional asset managers to remain bearish after the market reaches a new record high. In other words, institutions are now required to take on more risk, if the market is making new all-time records, as it’s an entirely new bull run.
Lee believes that the FOMO trade (fear to miss out) is part of the current environment.
S&P 500 reached a record high of 6,263,26 last week. Index is higher by more than 0.6% over the last day, and by more than 1% for the five days prior.
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The post Fundstrat Tom Lee says FOMO is driving major stock market rally – here’s his S&P500 price target may change as new information becomes available.
