Analyst who correctly predicted the S&P 500's rally revisits outlook
The veteran Wall Street analyst has rebooted his stock market outlook.
It isn't easy predicting the stock market's twists and turns. Most get it wrong. Wall Street is littered with forecasts that didn't pan out, particularly at the end of 2022, when stocks were mired in a brutal bear market.
Conventional wisdom at the time was that stocks would continue to spiral downward, forced lower by an unfriendly Fed and slower economic growth. Few were willing to be bullish, given a drubbing took the S&P 500 down 24% between the end of 2021 and the end of September 2022.
Yet, not everyone was caught off-guard by the rally that catapulted stocks to back-to-back 20% returns in 2023 and 2024. Among the most bullish ahead of the stock market's impressive gains was long-time Wall Street analyst Tom Lee, who has been navigating the stock market since the early 1990s.
