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The Ticker

JPMorgan equity strategist predicts construction boom

Lee pushing bull market outlook

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The chief U.S. equity strategist for JPMorgan Chase & Co. (JPM) told CNBC’s Squawk Box Thursday morning that he believes America is in a bull market and a construction boom is "imminent."

Thomas Lee said that pent-up demand is strong as corporations have been holding onto capital reserves, and that the string of poor economic news  the past few months are just “short-term noise.”

He also sees tailwinds from lower oil costs and improving weather, and said investors could even look toward heavily shorted stocks.

With modest growth expected this year and employment improving, the U.S. does not seem close to falling into another recession. One measure investors can check to see whether growth could slow to recession-like levels is the long-term yield curve on 10-year Treasury notes and 30-year Treasury bonds, Lee said.

Source: CNBC
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