Tom Lee Proclaims "Summer of Small Caps" as Market Broadens Beyond Mega-Cap Tech

Fundstrat's Tom Lee highlights a significant rotation in the market leadership, declaring the onset of a "summer of small caps" as investment momentum broadens into downstream sectors.
Key market developments and leadership shifts include:
- Broadening Momentum: Downstream themes—including Magnificent 7 software plays and digital assets—have demonstrated consistent strength since late June.
- Asset Class Performance: Cryptocurrency is currently leading performance charts, followed closely by energy assets and gold.
- Small Cap Resurgence: Small-cap equities are finally gaining traction, posting a 23% gain for the year.