2025 OUTLOOK (Lee): Two “puts” make a right - After 20% back-to-back, Mid-year 7,000, Year-end 6,600

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There are strong tailwinds supportive of stocks in 2025. But we see this as a tale of “two years”

BASE CASE: Equity risk-on first half, S&P 500 7,000.  Visibility weakens, YE 2025 at 6,6...

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