Woofun AI reports that Tom Lee, Chairman of BitMine, stated in a CNBC interview that he anticipates stronger U.S. stock performance in July. He attributes this outlook to more reasonable market valuations and investor sentiment that has not reached excessive bullish levels. Lee noted that the current market P/E ratio is approximately 1.1 percentage points lower than in January, with Q1 corporate earnings significantly exceeding expectations. He expects Q2 earnings to also surpass forecasts, potentially reducing valuation pressure and allowing for P/E expansion.

Regarding the S&P 500, Lee expressed confidence in reaching 8,000 points within a year, aligning with a 2026 EPS of $400 and a P/E ratio of around 20. He considers this earnings expectation conservative, suggesting the P/E multiple could rise to 22 or higher, implying upside potential to 8,400-8,800 points. Lee warned of a potential bear-market-like adjustment between August and October, noting that only 23% of fund managers currently outperform benchmarks. He added that the February-April decline, despite being only 7%, created a bearish sentiment, while future factors like the new Fed framework and SpaceX stock unlocks may test the market.