Siegel Sees Market Moving Higher, But Warns Of Tax Headwind

Author and Wharton Professor Jeremy Siegel says he thinks stocks will move higher by the end of 2012, but thinks the lack of resolution regarding extensions of key tax cuts will cap the gains for the year. Siegel tells Bloomberg he thinks that resolution will come on those tax cut extensions by the end of 2013, and he expects the market to jump 10% to 15% “right away” whenever that happens. He says that valuations and the lack of attractive alternatives should push the Dow Jones Industrial Average to 15,000 over the next two years, and says there’s a 50/50 chance it gets as high as 17,000.

Comments are closed.