Investor Advises Buying The Dip Amid 'Tricky Period' In Market: 'The Setup Into Year-End Has A Lot Of Tailwinds'

Tom Lee, Managing Partner at Fundstrat, expressed his views on the current market situation amid a backdrop of heightened market uncertainties, including Middle East tensions, the impact of Hurricane Helene, the ongoing dockworkers’ strike and the looming presidential election.

What Happened: Talking to CNBC “Squawk Box” on Tuesday, he stated, “I think we’re still in the midst of a very tricky period.”

“If we get a dip, I think you still want to buy that dip because the setup into year-end has a lot of tailwinds.”

See Also: Amazon, Apple, Tesla Brace For Supply Chain Disruptions As Potential East Coast Dockworkers Strike Nears

Why It Matters: The U.S. stock futures have been slipping due to these concerns, with traders closely monitoring the ADP's private payrolls report and comments by Federal Reserve officials.

Furthermore, the Middle East conflict has escalated, with Iran launching a missile attack on Israel in retaliation for the killing of Hezbollah leader Hassan Nasrallah. This has raised tensions in the region, adding to the market’s volatility.

Price Action: At the time of writing on Wednesday, SPDR S&P 500 ETF Trust SPY was slightly down by 0.12% while Invesco QQQ Trust, Series 1 QQQ was trading 0.083% lower, according to Benzinga Pro.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari