Jeremy Siegel: Tax Cuts to Boost Earnings
Commenting on the current state of the markets, Jeremy Siegel said the tax cuts, reductions in regulation and an increased economic growth rate are likely to lead to a continuation of the rally.
The Citigroup Economic Surprise Indicator, which shows how the data is going over the last week, is at its highest level since July, Siegel stated. Siegel added that while GDP is currently not very strong, consumer sentiment is positive at the moment.
Siegel stated, “I personally think this rally is definitely justified, and could move further.” Siegel sees a corporate tax cut boosting earnings 10 percent or more. Protectionism would not be good, but Siegel said he doesn’t see that happening.
In June, the Wharton professor said European stocks looked cheap [link].
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