- The new bull market in stocks has begun, according to Fundstrat’s Tom Lee.
- Lee pointed to waning volatility stemming from SVB and other bullish market signals.
- He’s made the case for the S&P 500 to rally at least 20% this year, with a 4% gain coming in April.
A new bull market in stocks has taken off, and history shows the bear narrative is falling apart, according to Fundstrat’s head of research Tom Lee.
In a note on Friday, Lee pointed to the strong gains the S&P 500 in recent months, with the benchmark stock index up 5.5% over the past quarter. Stocks were up a similar amount the previous period, surging 7% in the last quarter of 2022.
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