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The stock market is in risk-on mode as a sharp decline in COVID-19 cases means a big economic surprise is possible, Fundstrat's Tom Lee says

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'We are now seeing the strongest string of COVID-19 declines that was not seen since Wave 2 ended over the Summer,' Lee explained.

A sharp decline in COVID-19 cases is leading to a newfound risk-on mode for the stock market, Fundstrat's Tom Lee said in a note on Thursday.

If the COVID-19 downturn continues, a quicker-than-expected opening of the US economy would represent a big upside surprise for the market, Lee said.The US stock market is entering"risk-on" mode as COVID-19 cases stage a sharp decline, Fundstrat's Tom Lee said in a note on Thursday. "We are now seeing the strongest string of declines that was not seen since Wave 2 ended over the Summer," Lee explained.

 

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The pandemic has proven that the stock market is not driven by the economy. Middle class America isn’t worrying about the stock market right now.

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good luck

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