Fundstrat's Tom Lee sees upside in stocks as US economy is still in mid-expansion

The U.S. still has some gas left in the tank, according to Fundstrat Global Advisors.

Based on the key data including investment spending and employment ratio, the U.S. is still in the middle of its record-long expansion, instead of in the late cycle that has been sending jitters to investors, Fundstrat's head of research Thomas Lee said in a note on Thursday.

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