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Fundstrat Co-founder: Investors should remain cautious in the next eight weeks due to potential Fed rate cuts and the US election
2024-09-03 13:18:55
Odaily News Fundstrat co-founder and head of research Tom Lee expects the stock market to be in some turmoil over the next eight weeks, although he expects a pullback could be a buying opportunity for investors. "I think investors should be cautious over the next eight weeks," Lee told CNBC's "SquawkBox Europe" on Tuesday. However, he continued, "I think there are opportunities for people to buy over the next eight weeks. That is, it's good to be cautious, but also be ready to buy on dips." According to CME's "FedWatch" tool, the market is pricing in a 67% chance of a 25 basis point rate cut by the Federal Reserve in September, while others see a 50 basis point cut. (Jinshi)