But after Wednesday's big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election.
AdvertisementProminent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates.
But after a big 50 basis point cut on Wednesday, Lee says he's feeling cautious ahead of the November election.
That rally would happen regardless of a 25 or 50 basis point cut, he said, if the Fed suggested future cuts are likely.
With election-related volatility ahead, Lee recommends investing in cyclical stocks in areas like industrials, financials, and small caps.
Persons:
Tom Lee, Lee, —, SoFi's Liz Young Thomas
Organizations:
Federal Reserve, Service, Fundstrat Global Advisors, CNBC, Fed, Business