The stock market could surge another 9% before year-end if the Fed does these 2 things, Wharton professor Jeremy Siegel says

The stock market still has plenty of upside into year-end, according to Wharton professor Jeremy Siegel.

He added that Powell is "stuck" in the idea that because real growth is higher, that's going to put pressure on wages, adding to inflation and ultimately forcing the Fed to continue hiking interest rates. Estimates for the upcoming the August payroll report are for about 160,000 new jobs being added, which would be about half of the job gains seen last August.

Second, the Fed needs to hold off on any further interest rate hikes for Siegel's bullish stock market projection to materialize. While futures markets are currently not pricing in another increase this year, Powell's Jackson Hole speech increased the odds of at least one more 25-basis-point hike by year's end.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Global shares mostly rise after Fed chief's speechTOKYO (AP) — Global shares were mostly higher Monday, as investors were relieved by the head of the Federal Reserve indicating it will “proceed carefully” on interest rates. France's CAC 40 added 0.8% in early trading to 7,288.58. Germany's DAX rose 0.6% to 15,730.05. Trading was closed in Britain for a bank holiday. U.S. shares were set to drift higher with Dow futures up 0.3% at 34,464.00. S&P 500 futures rose 0.2% to 4,423.50. Japan's benchmark Nikkei 225 added 1.7% to finish at 32,169.99. Au
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Emerging-Market Rally Runs Into Doubts Over China and Fed PolicyA rally in emerging markets faded as doubts over China’s commitment to revive its faltering economy and confusion over the US Federal Reserve’s next steps kept sentiment in check.
Source: BNNBloomberg - 🏆 83. / 50 Read more »