Posted 1/29/2024, 2:44:00 PM
Stocks Positioned to Rally Through 2019 on Strong Earnings and Economic Growth: Wharton's Siegel
- Stocks could rally another 8-10% this year due to strong economy and corporate earnings growth, according to Wharton professor Jeremy Siegel
- So far this earnings season, 69% of S&P 500 companies have beat earnings estimates
- Strong US economy, with 3.3% GDP growth last quarter, points to rising odds of avoiding recession
- Stocks are fairly valued, even with some growth names trading at 20x earnings, leaving room to run
- Bull market doesn't depend on Fed rate cuts, Siegel says stronger economy with earnings growth more important