Wharton Professor Jeremy Siegel says the US economy is undergoing a credit crunch.Getty Images
The new bull market in stocks has more room to run, top economist Jeremy Siegel said.
Siegel pointed to strong momentum, with the S&P 500 up 16% from January.
Still, he warned of downside risks in the second half of the year, with the US facing a potential recession.
The new bull market in stocks has room to run, even as central bankers wage what Wharton professor Jeremy Siegel describes as a “war on growth.”
The economist pointed to strong recent performance in stocks through the first half of 2023, with mega-cap tech firms soaring amid the hype for AI and bets that the Federal Reserve will soon pull back on interest rates. That helped propel the S&P 500 to a gain of 16% in the first six months of 2023 – already beating Siegel’s original estimate that the benchmark index would rise 15% by the end of 2023.
“It can continue a lot longer … the momentum is still there,” Siegel said in an…
2023-07-03 18:43:25
Source from finance.yahoo.com