Asks for Tom Lee's thoughts on recent market price action and what investors should watch.
Speaker1
Tom Lee
Headlines have been scary but markets are taking it better than expected. This looks like the makings of a bottom with a position reset creating opportunity on the other side.
What would give you confidence to say that's a sign of a bottom? What do you need to see?
Speaker1
Tom Lee
VIX spiking over 40 then retracing would be a clean sign of de-risking. Another sign would be scary headlines with gold selling off and stocks turning green, indicating washout. Thinks we're pretty close.
Notes UBS and Morgan Stanley maintain bullish equity views despite geopolitics, with Morgan Stanley focusing on AI trade.
Speaker1
Tom Lee
Oil spiked on Strait of Hormuz concerns but Washington doesn't want high oil prices into midterms. Watching price action, encouraged oil isn't surging into close.
Notes AI trade acting as safe haven with Microsoft, Meta, Amazon, Nvidia trading better recently.
Speaker1
Tom Lee
March was makings of a bottom with software, Mag 7, and cryptos 90% through declines and now outperforming - sign of leadership. Even with trade disruption, you still need AI and Mag 7.