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06/09 10:13

Tariffs are not a threat to S&P momentum, says Fun

Tariffs are not a threat to S&P momentum, says Fundstrat's Tom Lee

Fundstrat's Tom Lee believes that the continued caution in the stock market could actually be paving the way for another bullish breakout.

In a recent interview with CNBC, Lee noted that despite the strong performance of the S&P 500, many institutional investors remain cautious – mainly due to unresolved trade issues.

He said portfolio managers are reluctant to take advantage of the upturn, fearing the economic impact of tariffs. But he said those concerns are overblown.

According to Lee, a 10% import tariff would reduce GDP by only about 1% – a manageable slowdown comparable to past oil price spikes that did not destabilize the economy.

Meanwhile, the bigger picture is more optimistic. With short interest growing, cash set aside and stable market conditions, Lee sees potential for a sharp rally. He suggests the real risk is missing the moment while waiting for a clear picture.

As skepticism continues, the expert believes the market could be preparing for a surprise surge, fueled, ironically, by those still on the sidelines.

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