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Energy sector could surprise in 2015: Lee

What Tom Lee likes in 2015

Falling oil prices will be a net positive for S&P earnings, even as the energy sector continues its slide, Fundstrat Global Advisors founder Tom Lee told CNBC on Wednesday.

Although energy is a 13 percent weight to the S&P, about $66 billion will flow through the economy as Americans spend less on gas, which is good for the rest of the index, Lee said on "Squawk on the Street."

"At the end of the day, the underlying thesis in terms of what's good for the U.S. is the consumer getting stronger, balance sheets being repaired, pent-up demand, and I think this helps the story," he said.

The S&P energy sector is down about 24 percent since U.S. crude oil prices hit a high in June. West Texas Intermediate prices have plummeted more than 40 percent since the peak.

Read More Could the US bail out its own oil sector?

Energy stocks could actually do well next year, Lee said. At present, investors are liquidating energy-related assets into year-end and resolving to figure out how to deal with the slump in oil later.

"I think energy is going to be poised for some surprise," he said.

Lee also likes technology, health care and financials.

Responding to news that JPMorgan Chase faces a $22 billion shortfall under the Federal Reserve's new capital requirements, Lee said, it would be a problem if banks had to meet those requirements in six to nine months. However, with several years to prepare, a lot can be achieved through retained earnings, he said.

Read More JPMorgan faces $22B capital hole under new Fed rules