Tom Lee Predicts Historic Rally To 'Well Above' All-Time Highs: Why The S&P 500 Could Hit 5,000 In 5 Months
Portfolio Pulse from Adam Eckert
Tom Lee from Fundstrat predicts that the S&P 500 will trade well above all-time highs this year, possibly reaching 5,000. He believes that strong earnings and lower inflation are key factors for this to happen. He also anticipates a 0.25% rate hike from the Federal Reserve, which he thinks the market has already priced in. The SPDR S&P 500 ETF Trust (NASDAQ:SPY), which tracks the S&P 500 index, is up more than 2.2% over the last week and more than 18% for the year.
July 18, 2023 | 4:34 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (NASDAQ:SPY) is expected to benefit from the predicted rally of the S&P 500. It has already seen a rise of more than 2.2% over the last week and more than 18% for the year.
Tom Lee's prediction of the S&P 500 trading well above all-time highs this year could have a positive impact on the SPDR S&P 500 ETF Trust (NASDAQ:SPY) as it tracks the S&P 500 index. The ETF has already seen a rise over the last week and year, indicating a positive trend.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100