Fundstrat Global Advisors co-founder Tom Lee reaffirmed his year-end 2025 roadmap for the S&P 500, saying the benchmark could finish the year at 7,000—contingent on the Federal Reserve remaining dovish and the ISM manufacturing index climbing back above the 50 expansion line. Lee’s projection outlines an interim advance to roughly 6,600, followed by a tactical pullback of as much as 10% to around 6,000 between September and October. He views the anticipated correction as a pause within a broader uptrend that would set the stage for the index’s run to 7,000.