The risk-reward is quite good for stocks now, says Fundstrat's Tom Lee

• Equities are 90-95% through the selloff and are likely to finish April higher.
• Still sees S&P 500 reaching 7,700 by year's end.
• War-time spending (estimated $30B-$100B/month) acts as economic stimulus, outweighing the impact of rising oil prices.
• Private credit is worsening and expected to create losses for holders.
• Energy stocks and cryptocurrencies (Ethereum, Bitcoin) have been strong performers since the war began.

Fundstrat's Tom Lee maintains a bullish outlook for equities, suggesting the market has absorbed 90-95% of the selloff related to geopolitical events. He anticipates a higher finish for April and an S&P 500 target of 7,700 by year-end, driven by economic stimulus from defense spending and historical market resilience during conflicts.