![]() ![]() "The structural supply-demand tightness today is so different that $80 might be a floor for awhile. "Last time oil was $80 was in 2018, we had so much oil we were exporting it," Lee said. Lee said on CNBC's " Halftime Report " on Friday that the price of oil, which recently broke above $70 per barrel, could trade between $80 and $100 per barrel for an extended period of time. Lee remains bullish on many of the popular reopening plays. Among the strategist's favorite tech-related core plays are Alphabet, Amazon, Tesla, Apple, Cisco, Microsoft and Nvidia. Lee said that if interest rates are indeed rolling over, then history shows you should sell financials and buy technology/FANG. "This is a somewhat abrupt change in our view on FANG, since we downgraded FANG in early May. Lee acknowledged that the change on major tech stocks was a dramatic one, but said he thought moving quickly was warranted. The S & P 500 closed Thursday at a record 4,239.18. The primary reason for this shift in view is that interest rates are declining, and to a secondary extent, reflects the fact markets already 'panicked' about inflation," the note said. Thomas Jong Lee, commonly known as Tom Lee is an American entrepreneur, financial analyst, strategist, investor, businessman, and full-time contributor on CNBCs Fast Money, Tech Check, Halftime Report, and Closing Bell shows. Tom Lee says the 2022 bear market is over, stocks could hit new highs before year-end. "We are rethinking which sectors will lead the S & P 500 to 4,400 by mid-year 2021 (really next 4 weeks). Some investors will also include Apple and Microsoft in the group. ![]() FANG is short for Facebook, Amazon, Netflix, and Google-parent Alphabet. As a result, Fundstrat moved its rating on megacap tech, or FANG, to overweight from underweight, while downgrading financials to neutral from overweight. Scott Mlyn CNBC The recent decline in interest rates means that investors should shift shift some of their portfolio for the near term, according to Fundstrat’s Tom Lee. Lee, who gained a large following in 2020 for his analysis of the pandemic and his related market calls, said in a client note on Friday that the retreat in interest rates means that some of the sector trends in the market from earlier this year should reverse in the weeks ahead. Published Wed, 1:08 PM EDT Updated Thu, 12:51 PM EDT. The yield spiked above 1.7% earlier this year, which led to concerns about the direction for growth stocks as higher rates could raise costs for companies and expose high valuations in the sector. Tom Lee just made a bunch of new stock recommendations to play this years tough market. The 10-year Treasury yield was trading under 1.5% on Friday despite a 5% rise in inflation last month from a year earlier. The recent decline in interest rates means that investors should shift shift some of their portfolio for the near term, according to Fundstrat's Tom Lee. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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