Macro Update & Top Ideas - June 2026
Key Topics
Each month, Tom Lee and Mark Newton share their current market outlook, updated macro and technical framework, and top stock ideas. The replay from this month’s session is now available alongside the slide deck.
In this video:
-The revised year-end price target and the earnings and valuation framework behind it
-Why seven black swan events in five years have kept PE from expanding, and whether that changes from here
-The sectors Mark says are quietly broadening as sentiment stays skeptical after a 20% rally off the March lows
-Three specific risks Tom flagged that could pressure the market later in the year, and when to watch for them
-The Fed framework debate: what the two-year Treasury spread is signaling, and what it would take to undermine the bull case
-Fundstrat’s updated large-cap and SMID-cap top ideas for the month, with live technical analysis on every name
Panel of Speakers
Thomas Lee, CFA AC
Head of Research
Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top-ranked by Institutional Investor every year since 1998. Prior to co-founding Fundstrat, he served as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014, and previously as Managing Director at Salomon Smith Barney. His areas of expertise include Market Strategy, Small/Mid-Cap Strategy and Telecom Services. Mr. Lee received his BSE from the Wharton School at University of Pennsylvania with concentrations in Finance and Accounting. He is a CFA charterholder and is an active member of NYSSA and the NY Economic Club.
Mark L. Newton, CMT AC
Head of Technical Strategy
As former managing member/owner of Newton Advisors LLC, Mark has over 25 years of buy- and sell-side experience. Before Fundstrat, he worked at Diamondback Capital Management, and at Morgan Stanley, as a technical strategist. Mark has traded equity options as a market maker / floor trader on the CBOE, and has worked in risk management. He is a member of the Market Technicians Association, and former member of the CBOE, CBOT, and PHLX. He makes regular appearances on CNBC, FOX Business, and Bloomberg. Mark graduated with a BS in Finance from Virginia Tech in 1991, obtaining his Chartered Market Technician designation in 2002.
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