US stock market rises despite bad news... Tom Lee: "Evidence that last week's low has been confirmed has increased"

Fundstrat's Tom Lee said in a CNBC interview on November 9 that growing evidence supports last week having marked a market low, citing equities rising despite negative news over the weekend, including developments around Nvidia and Texas actions affecting Elon Musk-owned companies. He also pointed to the normalization of the VIX term structure, which had been inverted, as a sign that the recent sharp selloff may have helped consolidate a bottom. Lee argued that the market's ability to rally in the face of bad news is a positive signal. The call matters because it suggests investor sentiment may be shifting after a volatile stretch, and the next test will be whether stocks can hold those levels and the VIX structure stays normalized.