Expect a massive hit to corporate earnings this year, accompanied by new all time highs in the stock market, Fundstrat’s Tom Lee said. Lee said he thinks that despite the likelihood that companies will report negative earnings in the second quarter, the S&P 500 can trade to 3,450 by year-end, driven by stimulus policies and a sharp rebound in corporate earnings. “The middle months of 2020 are going to be bad and 2Q2020 should be a loss … but this does not mean stocks should go down,” Lee said. Visit Business Insider’s homepage for more stories.
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