The US-Iran ceasefire boosts market sentiment, Tom Lee says the US stock market's cyclical bottom may have already been confirmed

ME News Report, April 9 (UTC+8), influenced by Trump’s announcement of a two-week temporary ceasefire between the US and Iran, market risk sentiment quickly improved, with the three major US stock indices rebounding sharply. The Dow Jones Industrial Average rose over 1,300 points in a single day, marking its best performance in nearly a year; WTI crude oil futures plummeted more than 16%. Fundstrat research chief Tom Lee stated that the market has confirmed a phased bottom and is re-approaching historic highs. He pointed out that, amid previous oil price surges and escalating conflicts, the stock market did not show significant declines, demonstrating strong market resilience, and that the ceasefire has become a catalyst for sentiment reversal. He predicts that the S&P 500 index could rise to 7,300 points within the year, about 7.6% above current levels, and is optimistic about the future performance of technology stocks, software, energy, and financial sectors. Among them, the “Big Seven” technology giants are seen as the core driving force behind this round of rebound. Several institutional investors also believe that as geopolitical risks ease and oil prices fall, the market has entered a “relief rally” stage, coupled with the upcoming earnings season, making this a good window for buying on dips. (Source: ChainCatcher)