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Tom Lee: S&P 500 at or above 3,125 on Dec 31, 2019

Tom Lee's prediction that S&P 500 would be at or above 3,125 on December 31, 2019 came true. The close on the deadline decided this call: S&P 500 closed at 3,231 on December 31, 2019, the deadline. Tom Lee made the call on CNBC on May 3, 2019, when S&P 500 was at 2,918. The target needed a 7.1% rise in eight months.

Updated

What was said

Photo of Tom Lee
Tom Lee

Head of Research, Fundstrat Global Advisors; Chairman, Bitmine Immersion Technologies

CNBC, May 3, 2019SourceArchive

8 predictions · 2 hit · 4 missed · 2 open

Photo: Xuthoria, CC BY-SA 4.0

In a note to clients, the co-founder of Fundstrat Global Advisors raised his S&P 500 year-end target to 3,125 from 2,925, which represents a 7% gain from Thursday's 2,917 close.

Lee said his new year-end target reflected a first-quarter earnings "recession" that had not been as bad as feared. He also argued that Fed Chairman Jerome Powell's comments after that week's policy meeting had not unsettled the market as much as in the past, saying the Fed's message had become more market-friendly.

How we checked this

HitDeadline

Price when said
2,918 closeprice data
Target
3,125+7.1%
Close on the deadline
3,231price data

The close of the last trading day on or before Dec 31, 2019 decides: the prediction comes true if that close is at or above 3,125. Prices are daily closes, not intraday highs.

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