Tom Lee Wants a 10% Crash Before S&P 500 Hits 8,000, Bitcoin Already Had One

Fundstrat’s Tom Lee expects the S&P 500 to reach 8,000 by the end of August. He also expects a 10% correction, and he argues the market would be better off getting one. Lee made the case on CNBC after a mild July inflation print lifted stocks to fresh records.

Crypto investors watching from a $63,000 Bitcoin may find the argument uncomfortably familiar. Why Tom Lee Wants a Correction Before Stocks Reach 8,000 Conditions look close to ideal for equity bulls.

July consumer prices rose 0.1% on the month and 3.4% on the year, matching forecasts. Core inflation landed at 2.5% annually. That print followed a weak July jobs report. Together they cut the odds of a September Federal Reserve rate hike to roughly 40%.

The S&P 500 closed at a record on August 12, but Lee has not softened his target.