Lee: S&P Will Reach 1,160 by Year-End
Thomas Lee, chief U.S. equity strategist at JPMorgan, thinks many investors are too conservatively positioned to the end of the year.
“Dow 11,000 is a much greater probability in the near-term" than Dow 10,000,” Lee told CNBC.
“When we look at December, we think there’s a lot of pro-cyclical data that’s supporting a really strong recovery. And as you look at early 2010, you’re going to start to see seeds of a potential boom in terms of jobs recovery, so we’re bullish into year-end as well as early 2010.”
