SPY - Market Strategist Breaks Down Bull Case Scenario For Small-Caps Predicts 40% Jump In Near Term: 'I Think It Is Just Starting' | Benzinga
Small-caps have been on tear ever since the second day of Federal Reserve Chair Jerome Powell’s Congressional testimony when he chose to adopt a dovish tone, and a market strategist said on Monday that the rally in the space is only getting started.
What Happened: The rally seen in the current leg-up will likely be larger than the upside seen in the October-December period, said Fundstrat’s Head of Research Tom Lee in an interview with CNBC. During the eight-week period late last year, the Russell 2,000 Index, a small caps-focused index, rose nearly 30%, he noted.
The Russell 2000 hit its highest level since January 2022 and ended the day nearly two percent higher, but can this run continue for the rest of the year? Tom Lee (@fundstrat) breaks down his bull case for small caps. pic.twitter.com/2kbPBzyk82 — CNBCOvertime (@CNBCOvertime) July 15, 2024
This time ...