Fundstrat: Volatile December Could Bring S&P 500 to New Highs Despite Investor Caution
• Fundstrat's Tom Lee predicts the S&P 500 will rise 5% in December to test record highs, but expects a "zig-zag" path with volatility
• October personal consumption data on Thursday could spark an initial stock market rally if it comes in "soft"
• Upcoming jobs and inflation reports on Dec. 8 and Dec. 12 could cause temporary sell-offs if higher than expected
• Lee recommends buying any dips, as resilient consumer spending and potential for a "dovish shift" by the Fed on Dec. 13 signal more gains
• Despite the S&P 500's 20% gain this year, investors have pulled $240 billion from equities, representing "buying power" that could chase gains