Jeremy Siegel, professor of finance at the Wharton School at the University of Pennsylvania and Michael Gurka of Empower Global Funds talk with Bloomberg's Matt Miller, Carol Massar and Julie Hyman about the outlook for stocks and President Barack Obama's plan to regulate banks.
Jeremy thinks the current pull-pack resembles the corrections we saw since March 2009, and nothing more than that. He blames President Obama’s proposed tax and restrictions on banks for the current market action.
Despite the general positive economical and earning reports, the market has been rather weak for the week. Jeremy thinks this might the market correction he was predicting that would happen late this year. Now because political forces intervene the market, we may be having it now.
But he is hopeful and saying we may have a market high in the spring of the year.
Jeremy thinks the oil price weakness is a positive for the stock price.
(Source: Bloomberg)
Jeremy thinks the current pull-pack resembles the corrections we saw since March 2009, and nothing more than that. He blames President Obama’s proposed tax and restrictions on banks for the current market action.
Despite the general positive economical and earning reports, the market has been rather weak for the week. Jeremy thinks this might the market correction he was predicting that would happen late this year. Now because political forces intervene the market, we may be having it now.
But he is hopeful and saying we may have a market high in the spring of the year.
Jeremy thinks the oil price weakness is a positive for the stock price.
(Source: Bloomberg)
