Lee Sees Strong Rally If Fed Holds Rates

Tom Lee believes that if the Federal Reserve leaves interest rates unchanged at its September 15 meeting, there's a strong chance of a stock market rally in mid-September.

The Fundstrat co-founder and chairman of Bitmine Immersion Technologies said he now sees upside risk in September despite mounting concerns about the Fed, AI spending, and seasonal weakness.

Lee previously expected a roughly 10% market correction in September but thinks the market might surprise to the upside instead. He points to the S&P 500's recovery after two consecutive months of losses as a positive sign.

The Nasdaq-100 is on track to outpace both the S&P 500 and the Dow Jones Index in August, with Bitcoin far outperforming all three.