Tom Lee Expects Strong Year-End Performance for US Stocks, Watchful Funds May Enter Market

On November 3, Tom Lee, chairman of BitMine, stated in an interview with CNBC that despite recent market pressures, he still expects US stocks to finish the year strongly. He pointed out that investors are concerned about war, AI spending, the debt market, the Federal Reserve, inflation, and the midterm elections, but the market has shown resilience under these pressures. If some uncertainties dissipate, watchful funds may re-enter the market. Regarding the midterm elections, Tom Lee believes the market prefers a policy stalemate to avoid excessive policy changes, and the presidential veto power remains important. He holds a different view on concerns that Democratic control of both houses of Congress may impact data center construction, believing that Democratic representatives will support AI investments as they can bring funding to local communities and benefit employment and the economy. On predicting the market, Tom Lee stated that there is a significant difference between the prediction market and polls for 2024, providing strong signals for investors, but in this midterm election, both are nearly aligned, pointing to a Democratic victory, thus he believes the incremental signals provided by the prediction market are not as strong as those for 2024.

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