The Dow has seen an all-time high according to “the Wizard of Wharton” Jeremy Siegel, a retired finance professor, who believes that in 2024 the stock market will see a reversal towards value, namely small stocks, achieving a 10-15% rise. The “Magnificent Seven” healthcare-oriented Big Tech stocks like Tesla and Nvidia surged 23% this year pushing the S&P 500 index nearly to the all-time eyar peak. This bullish sentiment for stocks is almost sticking in the face of some vigorous rate hikes by the Federal Reserve to counter inflation surge that has nonetheless let the US economy expand without a recession.
An optimistic Siegel does not only back stocks, but his outlook for the US housing market calls for prices to soar another 4-5%, count a year from now, competing inflation slowing down and trend commodities witnessing exciting dips. He even assumes that the central Bank could go further by lowering its benchmark rate from the nowadays 5.25% level closer to 4% over the upcoming year. According to Siegel’s premonition, the Fed could act so that to prevent a full cherony on the propellant.
“Stocks for the Long Run” author, Siegel has been seemingly proved right at least this year, so it has to be expected to his hopeful projections for golden dodge in music a better investment agenda for 2024 stood up.
