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Fundstrat's Tom Lee discussed the market reaction to a 'hot' CPI report, noting that stocks rallied despite the negative data. He believes there is still 'gas left in the tank' for the market rally, attributing it to bad news being priced in and investors underweighting equities. The market seems to have shrugged off the hot CPI report, with stock traders bracing for the worst but ultimately seeing stocks rally.
HEADS UP: I’ll be live on The Morning Show on @stockmkttv with @allstarcharts and @sstrazza TODAY at 9:00 am ET. Really excited about doing this! Watch it here: https://t.co/M8zfORBKjZ
🔴 STOCK TRADERS BRACING FOR THE WORST SHRUG OFF HOT CPI - US MARKET WRAP https://t.co/pn0MjR7NOo
Great speaking 🗣️ with @carlquintanilla @MorganLBrennan @davidfaber 📺 #CNBC 👇 👇 - today —> “hot” #CPI (=not good) but stocks rally - “gas left in tank” because bad news is priced in, or investors underweight equities @SquawkStreet @fs_insight #tuesdayvibe $SPY $QQQ… https://t.co/Tuovn2Li18
