Bet on cyclical stocks if Washington reaches a stimulus deal, says Fundstrat’s Tom Lee

The U.S. Capitol stands in Washington, D.C., U.S. on Thursday, Oct. 1, 2020. Talks Thursday between Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin brought no immediate breakthrough on a deal for a new pandemic relief package, while the House prepared to vote on a Democrat-only plan.
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Fundstrat Global Advisors founder Tom Lee told CNBC on Tuesday that investors should add exposure to cyclical stocks if Washington strikes a deal on another coronavirus relief package.

"A stimulus deal is going to provide an important bridge to the economy because ... there's a lot of Americans suffering," Lee said on "Power Lunch." "The groups that will benefit from that stimulus are going to be economically sensitive, so I think you really want to be cyclically tilted if we do get stimulus."