Equity strategist Tom Lee expects some volatility in stocks over the next eight weeks, but he expects a pullback could be a buying opportunity for investors. Lee stock could recover 7% to 10% as investors weather the weakest month in history this year. According to the Stock Trader’s Almanac, the S&P 500 has fallen an average of 0.7% in September every year since 1950. ’s “Squawk Box” show. “The market has been up seven out of eight months this year. So we know it’s a very strong market. But we also have production cuts in September, and we have the election, and those things are going to make people nervous.” “I think going forward Within eight weeks, people have the opportunity to buy,” Lee continued. “So I think it’s good to be cautious, but be ready to buy the dip. Fundstrat co-founder and head of research worries there could be some catalysts for volatility on Friday after the disappointing August jobs report. 7 September’s non-farm payrolls data revived concerns about growth and led to a sell-off on August 5, but strategists worry that August’s data could be hotter than expected, an outcome that could put a September rate cut beyond investors expectations. Also rightly bullish on stocks heading into 2024, he made some bold short-term predictions this year, including predicting a shift toward small-cap stocks.
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