Here's why stocks will hit new all-time highs within months, according to Fundstrat's Tom Lee
With strong earnings reports from the FANG stocks on Thursday, coupled with the ongoing reopening of the US economy, earnings visibility is set to increase. That will help drive the stock market to new all-time highs later this year, according to Fundstrat's Tom Lee.
That's according to Fundstrat's Tom Lee, who said in an interview that Thursday's blockbuster earnings reports from Facebook, Amazon, Apple, and Google-parent Alphabet, coupled with the ongoing reopening of the US economy, set the stock market up well for the rest of the year. According to Lee, the 10-year US Treasury trades at a price-earnings multiple of 180x, while corporate bonds trade at a price-earnings multiple of 40x,"so FANG's actually pretty cheap as a bond proxy," Lee said.
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