Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
Including Susan Collins of maine, one of the main moderates who told me she has concerns about adding the repeal of the individual mandate of obamacare on to the tax bill because it could raise premiums and essentially wipe away some of the tax breaks that some people may get from this bill. Others are concerned about some of the potential deficit increases including senator bob corker of tennessee, he would not vote for any bill that would raise the deficit at all. A lot of questions emerge after today when President Trump comes here to the house to actually push this, try to a pep rally of sorts to push this bill over the finish line. We do expect it to get past the house today. What happens in the senate after it passes the Senate Finance committee this week, uncertain about its prospects on the senate floor. Something theyll take up after thanksgiving. And then can they reconcile the differences between the house version and the Senate Version and get a bill over to the president s