Tom Lee: US Stocks May Have Bottomed This Month, Oil Price Increase Actually a Relative Positive for US Stocks

BlockBeats News, March 15th. Tom Lee, Chairman of the Ethereum Treasury Company BitMine, said in an interview with CNBC, "I think overall, tech stocks have actually performed quite well, including software stocks. This is reasonable for us, but I have to say something counterintuitive. A rise in oil prices is actually beneficial for the U.S. stock market. One reason is that the U.S. is a net oil producer. When people are worried that rising oil prices will drag down global economic growth, they are more inclined to hold growth stocks instead. This will prompt investors to buy into the U.S. stock market, as the U.S. market itself is a 'growth index,' especially in the MAG-7 and software sectors. So I think the current market performance is actually logical. I also believe that the stock market may be bottoming out this month."

The problem of private credit has actually existed for some time, and it is only gradually being exposed now. But I don't think the situation is as systemic as the market is worried about. Many people immediately think of Lehman Brothers and the global financial crisis when they see problems, but there are many reasons to believe that this time is different. First, the market size is not as large as it was back then. Second, the credit stress signals we see now are not as severe as they were in 2008. So I think it is indeed dragging down the financial sector now, but it will not become a systemic issue for the entire market or economy."