Tom Lee Predicts S&P 500 Could Surpass 7,700 Points This Year

According to CNBC, Tom Lee, head of research and managing partner at Fundstrat Global Advisors, said the S&P 500 surpassing 7,700 this year is "very probable," citing the economy's resilience through the Iran war, a strong earnings season in which more than 89% of companies have beaten estimates by over 1,200 basis points, and early signs of AI-driven productivity gains. The index closed at a record 7,173.91 on Monday, about 7.3% below Lee's target. Lee also noted improving private credit underwriting conditions as a further tailwind. "For stocks for the year, the upside case is strengthening," he said.