Cindy Ord/Getty Images
- With strong earnings reports from the FANG stocks on Thursday, coupled with the ongoing reopening of the US economy, earnings visibility is set to increase. That will help drive the stock market to new all-time highs later this year, according to Fundstrat's Tom Lee.
- In an interview on Friday with CNBC's Scott Wapner, Lee said that many investors are ignoring an upcoming binary event that has a high probability of success: a breakthrough in the development of a treatment or vaccine for COVID-19.
- Lee said investors should have exposure to sectors that were hardest hit by the COVID-19 pandemic, because "in a world where there's a vaccine or cure, they've got defendable businesses."
- Visit Business Insider's homepage for more stories.
Investors should prepare for new all-time highs in the stock market and have exposure to both the FANG stocks and the so-called "epicenter" stocks, or companies that were hardest hit by the COVID-19 pandemic.
That's according to Fundstrat's Tom Lee, who said in an interview that Thursday's blockbuster earnings reports from Facebook, Amazon, Apple, and Google-parent Alphabet, coupled with the ongoing reopening of the US economy, set the stock market up well for the rest of the year.
See the rest of the story at Business Insider
NOW WATCH: Why YETI coolers are so expensive
See Also:
- A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for — and warns another stock-market meltdown is likely
- 200-plus money managers pay thousands to set eyes on Jim Osman's stock buy list. Here are 2 he says are set to soar — and an under-the-radar IPO to keep a watch on
- 'Castles built on sand': Famed economist David Rosenberg says investors are being too reckless as stocks rally — and that a vicious long-term bear market is far from over
from Business Insider https://ift.tt/3k3z6Wo
No comments:
Post a Comment