US stocks will extend records as COVID-19 cases decline and America becomes 'one of the safest places in the world,' Fundstrat's Tom Lee says

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With daily COVID-19 cases continuing to decline at a "rapid pace," America is on the verge of becoming "one of the safest places in the world," according to Fundstrat's Tom Lee.

In a note to clients on Monday, Lee detailed the daily decline of COVID-19 cases in the US with the steadily increasing cases in Europe and elsewhere.

Lee said he believes the US could soon fall below Europe in reporting new daily COVID-19 infection cases, according to the note.

If the US becomes a safe haven from COVID-19 relative to Europe, stocks will extend their record gains and continue to rise as capital will seek the US.

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Stocks will continue their run and hit record new highs if the US becomes "one of the safest places in the world" when it comes to daily COVID-19 cases, Fundstrat's Tom Lee told clients on Monday.

With COVID-19 cases "falling so rapidly" in the US, daily cases could breach sub 10,000 by early September if the current pace continues, Lee said.See the rest of the story at Business InsiderNOW WATCH: Epidemiologists debunk 13 coronavirus mythsSee Also:GOLDMAN SACHS: The stocks most loved by hedge funds have smashed the market this year. Here are 15 stocks those investors flooded into last quarter.UBS analyzed how 900 stocks perform on positive COVID-19 vaccine news days and concluded that these 17 are poised to jump at least 9 on the next cycle of encouraging headlinesStocks are making their most extreme moves in 20 years and one quant expert warns the COVID-19 crash was a preview of more 'wild swings' to come

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