The head of research and co-founder of the investment management firm Fundstrat says the firm has set a higher year-end target for the S&P 500.
Tom Lee says that six months after forecasting that the stock market index will end 2026 at 7,000, Fundstrat is now bullish that the S&P 500 will go higher and hit the 8,000 mark.
“To backtrack a little bit in December, we made the call that the S&P would be at 7,700 but we said the market was going to face a wall of skepticism and a new Fed. At that time, we said the market could gain as much as 12%. That’s how we got 7,700.”
Lee says the bull market is still in a really good shape despite that the S&P is now cheaper than it was on January 1st.
“This is a bit of a transition year but in 2027, we could be seeing gains in the stock market that we’ve never seen in our lifetime so I think you still want to keep your eye on the bigger picture.”
Lee says that the firm’s most favorite sectors are technology, financials, industrials, small-caps and energy/basic materials. As to the major drivers of earnings and gross domestic product (GDP) in 2026, the executive says these are AI, energy, infrastructure, Wall Street moving onto the blockchain and on-shoring.
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