Wall Street's Tom Lee predicts a 10% bounce for the stock market after Tuesday's midterm elections [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
show chapters The stock market should rally 10 percent after the midterm elections through the end of the year, closely followed strategist Tom Lee told CNBC on Tuesday. With so much risk recently taken off the table heading into the elections, it's easily a recipe for a big bounce, the co-founder of Fundstrat Global Advisors said on Fast Money: Halftime Report . He has a year-end target of 3,025 for the S&P 500 . U.S. stocks rose slightly on Tuesday as voters headed to the polls. Democrats are expected to take control of the House, while Republicans are expected to keep a slight majority in the Senate. The market has been volatile recently. Stocks suffered steep losses in October thanks to concern about the elections, as well as fears about rising rates and a possible slowdown in earnings growth. Lee, former chief equity strategist at J.P. Morgan, called the bottom of the sell-off on Oct. 31, telling clients in a note that the market was
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