Tom Lee: Rising oil prices are relatively bullish for US stocks; the US stock market may bottom out this month.

Gate News reports that on March 15, Ethereum treasury company BitMine Chairman Tom Lee said in an interview with CNBC that technology stocks and software stocks are currently performing quite well. He pointed out that rising oil prices are actually beneficial for the U.S. stock market, mainly because the U.S. is a net oil producer. When the market worries that rising oil prices will hinder global economic growth, investors tend to favor growth stocks, which leads to capital flowing into the U.S. stock market, especially into the MAG-7 (Apple, Microsoft, Google, Amazon, Nvidia, Meta, Tesla) and software sectors. Tom Lee believes that the U.S. stock market may be forming a bottom this month.

Regarding private credit issues, Tom Lee stated that the problem has existed for some time and is gradually surfacing, but the situation is not as systemically risky as market concerns suggest. He noted that compared to the 2008 global financial crisis, the current market size is smaller, and credit stress signals are less severe than back then, so it is unlikely to become a systemic issue for the entire market or economy, but it will have some impact on the financial sector.