Photo: Bloomberg via YouTube
Tom Lee, J.P. Morgan’s top U.S. equity strategist was just on Bloomberg, and his tone continues to be bullish.”We think this year is going to break last year’s pattern,” said Lee referring to last summer’s stock market sell-off. “We think stocks will do pretty well over the summer, and then rally into year end.”
Despite the bumpy labour market data, Lee argued that the U.S. economy was in better shape in a “broad sense.” He also specifically noted that housing appeared to be bottoming.
Lee also downplayed the so-called “fiscal cliff” saying that it is less serious than the debt downgrade the U.S. economy faced last year.
Having said all that, Lee offered 10 stock picks. “It’s basically smoke-stacky, cyclical, very typical of what works during an election year.”
- Pioneer Natural Resources (PXD)
- Air Lease Corporation (AL)
- Denbury (DNR)
- Embraer (ERJ)
- Berry Petroleum Company (BRY)
- Express Scripts (ESRX)
- Canadian Pacific Railway (CP)
- Mylan (MYL)
- Apache (APA)
- Union Pacific (UNP)