Bullish Analyst's Bold Tactical Call: S&P 500 To Rally 1% This Week As CPI Print Will Shatter 'Entrenched Pessimism'
Portfolio Pulse from Shanthi Rexaline
FundStrat's Tom Lee, a bullish analyst, predicts a 1% rally in the S&P 500 Index this week, expecting the consumer price inflation (CPI) report to show a lower than expected inflation rate of 0.2% or less. This would be the lowest since August 2021, indicating that the Federal Reserve is achieving its target inflation levels. Lee also sees China's deflationary trend positively impacting the U.S. The SPDR S&P 500 ETF Trust (NYSE:SPY) slightly declined by 0.03% to $438.46.
July 10, 2023 | 2:16 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) could see a positive impact if the CPI report shows a lower than expected inflation rate, as predicted by FundStrat's Tom Lee. This could trigger a rally in the S&P 500 Index, which SPY tracks.
The SPDR S&P 500 ETF Trust (NYSE:SPY) tracks the performance of the S&P 500 Index. If the CPI report shows a lower than expected inflation rate, this could trigger a rally in the S&P 500 Index, which would likely result in a positive impact on SPY. However, this is based on the prediction of one analyst and actual market movements may vary.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100