---
title: "Longtime Bull Tom Lee Issues Warning, Says 2026 May ‘Look Like a Bear Market’ – Here’s His New Forecast"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/269553278.md"
description: "Fundstrat’s Tom Lee, traditionally bullish, warns that 2026 may resemble a bear market. He forecasts the S&P 500 to reach 7,000 by year-end and 7,700 by the end of next year. Lee anticipates tech stocks consolidating early next year, with small caps and financials potentially outperforming. He also notes that the replacement of Fed Chair Jerome Powell in May could boost markets."
datetime: "2025-12-12T17:24:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/269553278.md)
  - [en](https://longbridge.com/en/news/269553278.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/269553278.md)
---

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# Longtime Bull Tom Lee Issues Warning, Says 2026 May ‘Look Like a Bear Market’ – Here’s His New Forecast

Fundstrat’s Tom Lee says he’s not as bullish on 2026 as he has been in previous years.

In a new interview on CNBC, Lee says 2026 might not look so hot, although he’s expecting the S&P 500 to move somewhat higher by the end of the year.

Lee says he believes the S&P 500 will land around 7,000 at the end of this year and reach 7,700 by the end of next year, for a 10% gain.

Lee says he expects tech stocks to move through a period of consolidation at the start of the year, with small caps and financials potentially outperforming.

He says the replacement of Fed Chair Jerome Powell after his term expires in May will ultimately fuel markets.

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- [S&P 500 (.SPX.US)](https://longbridge.com/zh-CN/quote/.SPX.US.md)

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