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Tuesday, June 23, 2015 8:47:07 AM
Listen to Jeremy Siegel (It is good for your pocketbook.)
The U.S. stock market will survive the turmoil coming out of Greece, with the Dow Jones industrial average still hitting 20,000 by December or January as long as the Federal Reserve raises interest rates, longtime stock bull Jeremy Siegel said Monday.
'He thinks that rate hike will come in September.
If so, "I think the fourth quarter could be the best of the four quarters that we have this year in the stock market," the Wharton School finance professor said in an interview with CNBC's "Power Lunch."
"When I look at all the factors and even interest rates going up, I still think this market is worth 5 to 10 percent more than what we're seeing it sell at today."
About six months ago, Siegel made his call that the Dow could hit 20,000 by the end of 2015. He believes that's where the market should be based on fundamentals, interest rates and projected earnings. However, he noted Monday that "we don't always get there right away."
His prediction that the Dow would hit 18,000 by the end of 2014 came true in December.' -Jeremy Siegel, CNBC June 22,2015
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............................http://www.cnbc.com/id/102778500
The U.S. stock market will survive the turmoil coming out of Greece, with the Dow Jones industrial average still hitting 20,000 by December or January as long as the Federal Reserve raises interest rates, longtime stock bull Jeremy Siegel said Monday.
'He thinks that rate hike will come in September.
If so, "I think the fourth quarter could be the best of the four quarters that we have this year in the stock market," the Wharton School finance professor said in an interview with CNBC's "Power Lunch."
"When I look at all the factors and even interest rates going up, I still think this market is worth 5 to 10 percent more than what we're seeing it sell at today."
About six months ago, Siegel made his call that the Dow could hit 20,000 by the end of 2015. He believes that's where the market should be based on fundamentals, interest rates and projected earnings. However, he noted Monday that "we don't always get there right away."
His prediction that the Dow would hit 18,000 by the end of 2014 came true in December.' -Jeremy Siegel, CNBC June 22,2015
........
............................http://www.cnbc.com/id/102778500
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