Investors should remain optimistic that markets can rally before the end of the year, according to Fundstrat Global Advisors managing partner and head of research Tom Lee.
All three major indexes closed lower on Tuesday, with the S & P 500 shedding 1.4% and the tech-heavy Nasdaq Composite losing about 1.9%.
"So someone could invest their money today in the S & P and earn double the return over the next decade, or they can earn half of that owning a Treasury bond."
Lee also remains optimistic that Wall Street could see a "pretty violent upside rally," and he is sticking with a previous 4,825 forecast for the S & P 500 by the end of the year.
"I'm pretty confident that we're going to have a nice rally into year end, much higher from where we are now," Lee said.
Persons:
Tom Lee, Lee
Organizations:
Fundstrat Global Advisors, Nasdaq, Dow Jones, Treasury