Tom Lee: The US stock market has confirmed its bottom, S&P 500 is expected to reach 7,300 points by year-end

According to Odaily, Tom Lee stated on CNBC that the market bottom has been established. He explained that although the previous escalation of war and rising oil prices did not cause a stock market decline, the current situation is deescalating. He predicts that the S&P 500 index will reach 7,300 points by the end of the year, a 7.6% increase from current levels, and is optimistic about the technology, software, energy, and financial sectors.

Driven by the two-week ceasefire agreement between the US and Iran, US stocks rose across the board on Wednesday. The Dow Jones Industrial Average jumped over 1,300 points for its best single-day performance since April 2025; WTI crude oil futures fell more than 16%, marking the largest single-day drop since April 2020.