"This would be the third time that stocks entered a cycle where annual returns compound at high teens," Fundstrat's Tom Lee said.

U.S. stocks ended mixed on Monday, as traders’ expectations for the Federal Reserve to deliver a 50-basis-point rate cut on Wednesday continued to grow. The Dow Jones Industrial Average went up 228.30 points or 0.

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates