Tom Lee told CNBC on Monday that the S & P 500 may jump 100 points following a lighter-than-expected inflation reading this week. After a roaring first half, the S & P 500 has cooled in July as investors interpreted some strong jobs data to mean the Federal Reserve would resume its hiking campaign after pausing in June. The S & P 500 shed 1.2% last week to close at 4,398.95. The widely followed Wall Street strategist, who was correctly bullish heading into this year, recently raised his year-end S & P 500 target to 4,825 — which would put the benchmark at a record. Lee pointed out that earnings for S & P 500 companies excluding the energy sector are holding up.

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Persons: Tom Lee, Lee, Dow Jones, YTD Lee Organizations: CNBC, Fundstrat Global, Reserve, Treasury