Tom Lee remains bullish on the US stock market’s performance by year-end, as fading uncertainty is likely to prompt sidelined funds to enter the market.
47 minutes ago
Tom Lee, chairman of Ethereum treasury company BitMine, said in an interview with CNBC that despite recent market pressure, he still expects U.S. stocks to end the year with strong performance. He noted that investors are simultaneously worried about wars, AI spending, debt markets, the U.S. Federal Reserve, inflation, and midterm elections, yet the market has shown resilience amid these pressures. If some uncertainty fades, sidelined funds may return to the market. When discussing the midterm elections, Tom Lee believes the market favors policy gridlock to some extent, as it avoids excessive policy changes, and the president’s veto power remains significant. Regarding concerns that a Democratic control of both chambers of Congress could impact data center construction, he disagrees: Democratic lawmakers will support AI after the election, as related investments bring funds to local communities and benefit employment and the economy. On prediction markets, Tom Lee said that in 2024, there was a clear discrepancy between prediction markets and polls, which provided strong signals for investors; however, in this midterm election, the two were almost identical, both pointing to a Democratic sweep, so he thinks the incremental signals from prediction markets are weaker than in 2024.
OpenAI launches LifeVal, a tool specifically designed to test AI’s ability to handle daily life tasks, ranging from grocery shopping and housing hunting to caring for family.
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World Gold Council: Global gold ETFs recorded net inflows of 211 tons in the third quarter, while central bank gold purchases hit their highest level since the end of 2024.
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