Tags: Lee | bull | market | investors

JPMorgan's Lee: This Isn't 'at All a Mature Bull Market'

By    |   Tuesday, 25 February 2014 08:49 AM

The Standard & Poor's 500 Index hit a record high Monday, and Tom Lee, chief equity strategist at JPMorgan Chase, thinks the market has plenty of room left to move even higher.

The S&P 500 closed at 1,847.61 Monday.

Very low borrowing costs, pent-up demand, crumbling infrastructure and record amounts of consumer wealth will help boost stocks, Lee tells CNBC.

Editor’s Note:
5 Shocking Reasons the Dow Will Hit 60,000

"To me it's really a formula for stocks to do quite well because it's going to be a story about earnings surprise for the next few years," he explains.

In addition, retail investors will return to stocks in force, Lee says. "I still think we're just in the middle innings of a bull market," he adds.

"The retail investor will ultimately provide a lot of support for stocks. It's really going to transform the character of investing."

Many decades of data disprove the idea that retail investors' entrance into the stock market spells the end of a bull market, Lee says.

"The retail investor is not generally coming in at the top. They're going to come in mid-cycle. . . . I don't think this is at all a mature bull market."

Plenty of other market participants feel positive about stocks too.

"We're just seeing a shift in mentality," Mark Freeman, chief investment officer at Westwood Holdings Group, tells Bloomberg. "The market is really willing to focus on the positives and dismiss the negatives. In that environment, the market tends to drift higher."

Editor’s Note: 5 Shocking Reasons the Dow Will Hit 60,000

Related Stories:

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
InvestingAnalysis
The Standard & Poor's 500 Index hit a record high Monday, and Tom Lee, chief equity strategist at JPMorgan Chase, thinks the market has plenty of room left to move even higher.
Lee,bull,market,investors
288
2014-49-25
Tuesday, 25 February 2014 08:49 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved