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"The case for owning equities is the strongest now than it has been in all of 2022," Fundstrat's Tom Lee said, predicting a major stock rally on deck.
US stocks took a hit as protests dragged on in China, which could exacerbate supply-chain issues and hinder the Fed's inflation fight.
Pound US Dollar (GBP/USD) Exchange Rate Climbs as BoE Policymakers Hint at Further Rate Hikes | Currency News UK
The S&P 500 could reach 4,400-4,500 by the end of the year, as easing inflation means discounting hawkish Fed talk, Fundstrat said.
US stocks closed lower Monday, losing steam after last week's blistering rally. Meanwhile, crypto markets are still gripped by the chaos of FTX's collapse.