Tom Lee, head of research at Fundstrat Capital, predicts the S&P 500 could reach 7,900 to 8,000 points in August. This target implies upside of 2.3% to 3.6% from Wednesday’s close of 7,723.55. The index has already gained 3.1% this month, hitting all-time highs driven by strong second-quarter earnings and hopes for a deal to reopen the Strait of Hormuz. Tech stocks led the rally with a 5.8% gain, while the semiconductor sector rose 5.4% to 6.7%. Lee remains bullish on earnings acceleration for 2027, led by the Magnificent Seven, software and ethereum.
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