Fundstrat's Tom Lee Predicts 'Baby Rally' Could Spark Broader Year-End Stock Market Rebound
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A "baby rally" has unfolded in the stock market that could lead to a broader year-end rally, according to Fundstrat's Tom Lee.
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Lee highlighted fundamental and technical reasons to expect stocks to gain traction in coming weeks.
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A soft October jobs report gives the Fed room on interest rates. Corporate earnings have been strong.
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From a technical perspective, stocks are oversold and poised to bounce back based on historical data.
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Factors like the VIX falling, end of tax loss harvesting, lower yields, and oversold conditions support a "durable bottom" and strengthening rally.