Co-founder of Fundstrat and managing partner Tom Lee is doubling his bullish predictions for certain shares this year.
In a question and answer exclusively with the Global Money Talk YouTube channel, Lee says that Fundstrat predicted at the start of the year that industrials, financial data and technology would perform better than the wider US stock market.
Lee notes that industrial and financial data have surpassed other sectors so far, with Tech now also coming to life. According to Lee, Fundstrat sees the three sectors that lead the stock market for the rest of the year.
The Fundstrat Executive also thinks that one stock group will see more demand next year, a time when he thinks the Federal Reserve will start lowering the rates.
“With the FED reduction percentages next year, I think that will be good for interest-susceptible [stocks]. So that should really support financial data and it should support small and mid-caps. “
Regarding cryptocurrencies, Lee says that if the market capitalization of stablecoins – or digital assets is linked to other assets such as Fiat – bursts and precious metals – erupt, so Ethereum (ETH) would be built on ETH.
“Stablecoins are pushed by the government of the United States. This is the thing. Circle (USDC) runs on Ethereum. Stablecoins are running on Ethereum. So if Stablecoins explode, Ethereum is the backbone for stablecoins. So I think Ethereum will also make a big comeback.”
https://www.youtube.com/watch?v=VRMU_8GE -QG
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