In commentary shared with MarketWatch on Friday, Lee, one of Wall Street’s more high-profile bulls, rattled off four drivers that he said argue for more near-term upside in stocks.
The “Trump put” — the idea that traders expect Trump’s policy agenda to support economic growth and corporate profits.
The “Fed put” — the notion that the Federal Reserve is still planning to lower interest rates, even if it intends to do so more slowly.
Nvidia’s earnings were a “clearing event.” With its latest earnings, the most important company in America has soothed concerns about its ability to continue growing sales and earnings at a rapid pace.
Markets pulled back to technical support. The S&P 500’s brief drop below 5,900 pushed it to a key technical support level. Its bounce off that level looks like it has room to run.