Tom Lee Sees September Upside Surprise for Stocks, Targets $7,900-$8,000 on S&P 500

Tom Lee said he thinks September could be a strong month for stocks, arguing the market is set up for an upside surprise despite widespread seasonal caution.
Lee said inflation fears could ease as the jobs report, August CPI, and the September FOMC decision play out, and he thinks the odds of a September rate hike could fall all the way to zero. He sees $7,900 to $8,000 on the S&P 500 ($SPX) as a level where investors should be bullish, viewing today's "wall of worry" as a buying opportunity.