Fundstrat's Tom Lee raises S&P 500 target, sees all-time high before year-end

Fundstrat founder Tom Lee has grown more bullish on stocks, seeing the S & P 500 reaching a record high before the end of 2023. The widely followed strategist raised his year-end target for S & P 500 to 4,825, from 4,750. The forecast represents an 8% gain from Friday's close of 4,450.38 and a new all-time high above the previous record of 4,821.

But as we highlighted a few months ago, we have entered a "buy the dip" regime, so 2% pullbacks are generally buyable." .SPX YTD mountain S & P 500 The market just ended the first half of the year with flying colors. The S & P 500 popped 15.9% for its best first half since 2019. The tech-heavy Nasdaq Composite surged 31.7%, for its best first half since 1983. The 30-stock Dow added a modest gain of 3.8%. Lee pointed out that history is on his side.

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