Market Extra: ‘I think we are in No Man’s Land at the moment,’ says Fundstrat’s Lee of the stock market
“‘I think we are in no man’s land for the moment”
— Tom Lee
That is the view of Thomas Lee, founder of Fundstrat Global Advisors, as the market has been a hot mess of late, to put it bluntly.
Markets are besieged by a litany of concerns that are unsettling the bulls and those include, the war in Eastern Europe, surging inflation, rising interest rates, and global recessionary fears, to name a few.
During a CNBC interview earlier Thursday, Lee offered the clearheaded view that the market’s tumult was, well, a lot to handle at the moment.
“It’s far more treacherous than we expected,” he told the business network.
That said, he is still expecting stocks to finish higher by the end of 2022.
Presently, the Dow Jones Industrial Average
is down 8.6%, the S&P 500 index
is off nearly 11% in the year to date, as is the Russell 2000 index
while the Nasdaq Composite Index
is off 16% so far this year.
So, there is a lot of ground to traverse for the bulls in the next nine months.