When the stock market was in free fall back in March, Fundstrat Global Advisors founder Tom Lee made the bold call of a 25% rally by April.
He was right.
After that, he predicted a 50% recovery of the losses caused by the coronavirus pandemic would signal an “all-clear” that would accelerate gains to push the S&P 500 back near all-time highs. So far, he’s been right again and Friday’s surprisingly strong job report that showed U.S. payrolls unexpectedly added 2.5 million jobs in May has only fueled his bull thesis.