Jeremy J. Siegel
Last quote by Jeremy J. Siegel
Jeremy J. Siegel quotes
We are at a rich multiple on earnings. So we got to have those earnings come in, I think, for it to move for the next 1,000.
This looks like the early stages of a good equity move. Actually on Trump's appointments yesterday, if it weren't for bond yields going up. I think we would be up 200 to 300 points on the Dow. I thought that was extremely reassuring and sets up a very good tempo and setting for the rest of this year and into the early months of the Trump administration.
Is it possible that we get another 5 percent in the month of December? Most definitely. That would probably get us to Dow 20,000 and 2,300 on the S&P. I don't see the market stopping where we are right here.
I never thought the short run would be six hours long. I thought it would last at least a week or so.
When you have all the smalls stocks, large stocks, even tech stocks – which we know have had some challenges – joining with it, I don't think this is something that ends tomorrow. I think it continues through December.
Overall if [Trump's] economic policies, if any of it comes out to be true, I think we're set up for a great rally as we move forward.
We'll get over 19,000, that isn't much from now [and] it could reach near 20,000 if we get a meaningful acceleration in GDP and earnings growth, [along with] getting oil back towards $50 to $55. That would revive the energy sector, which has been a big drain on earnings.
I don't think there's going to be that much deviation between the S&P, the Dow and the Nasdaq, [with] the Nasdaq [being] more tech heavy, [and] the tech sector has been doing well. That's really where the only real growth tends to be, but I think all of them are going to be up less than 10 percent this year unless we get a meaningful acceleration in the second half of the year.
I think we need an earnings acceleration If we really want to get this market moving. But in the presence of a 1.5 percent 10-year [Treasury note yield], low rates, the Fed [giving] at most one increase [this year] and the dividend yield on the stock market being over 2 percent, people are saying, Hey, it's not bad being here.