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Tom Lee Sees S&P 500 Rising to 7,700, Then Pullback Before Midterm Bounce

GateNews

2026-05-29 11:10:20

US500-0.07%

ETH1.05%

According to Tom Lee, chairman of Ethereum's largest treasury fund BitMine, on May 29 during a CNBC interview, first-quarter earnings for S&P 500 companies beat expectations by $10 per share (actual EPS of $80 versus anticipated $70). On an annualized basis, this $40 earnings surge provides the index with approximately 800 to 1,000 points of upside. Lee maintains the index could advance to near 7,700 points in the near term, followed by a consolidation phase before October that may include market stress from the new Federal Reserve chair taking office, energy price pressures, and major IPOs. He predicts a rebound after the midterm elections and expects 2027 to be one of the best return years in a generation.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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