Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it

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Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it

CNBC2021-07-09

Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...

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Joshuji
·2021-07-09
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BS123
·2021-07-09
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JavierNG
·2021-07-09
best!
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  yeah
  2021-07-09
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IcyAlchemist
·2021-07-09
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duhduhduh
·2021-07-09
Pls like and comment!
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TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":143704102,"gmtCreate":1625815143006,"gmtModify":1703749105143,"author":{"id":"3587078333302518","authorId":"3587078333302518","name":"Joshuji","avatar":"https://static.tigerbbs.com/a45cb00e95a6585e7073c60daa885bb6","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143704102","repostId":1193792352,"repostType":4,"repost":{"id":"1193792352","pubTimestamp":1625813874,"share":"https://www.laohu8.com/m/news/1193792352?lang=&edition=full","pubTime":"2021-07-09 14:57","market":"us","language":"en","title":"Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it","url":"https://stock-news.laohu8.com/highlight/detail?id=1193792352","media":"CNBC","summary":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors sho","content":"<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193792352","content_text":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the pandemic economic recovery.\nThe prominent finance professor’s comments on CNBC’s“Closing Bell”came as all three major U.S. equity indexeswere off their lows of the day,but still solidly in the red. TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":143703378,"gmtCreate":1625814530494,"gmtModify":1703749095957,"author":{"id":"3577368267491048","authorId":"3577368267491048","name":"BS123","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like and share","listText":"Like and share","text":"Like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143703378","repostId":1193792352,"repostType":4,"repost":{"id":"1193792352","pubTimestamp":1625813874,"share":"https://www.laohu8.com/m/news/1193792352?lang=&edition=full","pubTime":"2021-07-09 14:57","market":"us","language":"en","title":"Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it","url":"https://stock-news.laohu8.com/highlight/detail?id=1193792352","media":"CNBC","summary":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors sho","content":"<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193792352","content_text":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the pandemic economic recovery.\nThe prominent finance professor’s comments on CNBC’s“Closing Bell”came as all three major U.S. equity indexeswere off their lows of the day,but still solidly in the red. TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":143709854,"gmtCreate":1625814393578,"gmtModify":1703749095627,"author":{"id":"4087137179536820","authorId":"4087137179536820","name":"JavierNG","avatar":"https://static.tigerbbs.com/32c501a86f51c2eb3e35d6dc41e618e4","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"best!","listText":"best!","text":"best!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/143709854","repostId":1193792352,"repostType":4,"repost":{"id":"1193792352","pubTimestamp":1625813874,"share":"https://www.laohu8.com/m/news/1193792352?lang=&edition=full","pubTime":"2021-07-09 14:57","market":"us","language":"en","title":"Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it","url":"https://stock-news.laohu8.com/highlight/detail?id=1193792352","media":"CNBC","summary":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors sho","content":"<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193792352","content_text":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the pandemic economic recovery.\nThe prominent finance professor’s comments on CNBC’s“Closing Bell”came as all three major U.S. equity indexeswere off their lows of the day,but still solidly in the red. TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5170179,"gmtCreate":1625814402764,"gmtModify":1663230750832,"authorId":4087137179536820,"author":{"id":4087137179536820,"authorId":4087137179536820,"name":"JavierNG","avatar":"https://static.tigerbbs.com/32c501a86f51c2eb3e35d6dc41e618e4","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.03.15","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":143709854,"type":1,"supId":0,"prevId":0,"content":"yeah ","text":"yeah ","html":"yeah "}],"langContent":"EN"},{"id":143709328,"gmtCreate":1625814384464,"gmtModify":1703749094111,"author":{"id":"3586429646894350","authorId":"3586429646894350","name":"IcyAlchemist","avatar":"https://community-static.tradeup.com/news/70287be4fce2077caea2b6d320a924aa","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143709328","repostId":1193792352,"repostType":4,"repost":{"id":"1193792352","pubTimestamp":1625813874,"share":"https://www.laohu8.com/m/news/1193792352?lang=&edition=full","pubTime":"2021-07-09 14:57","market":"us","language":"en","title":"Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it","url":"https://stock-news.laohu8.com/highlight/detail?id=1193792352","media":"CNBC","summary":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors sho","content":"<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193792352","content_text":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the pandemic economic recovery.\nThe prominent finance professor’s comments on CNBC’s“Closing Bell”came as all three major U.S. equity indexeswere off their lows of the day,but still solidly in the red. TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":143477955,"gmtCreate":1625814213677,"gmtModify":1703749091971,"author":{"id":"3548519664875261","authorId":"3548519664875261","name":"duhduhduh","avatar":"https://static.tigerbbs.com/3d0b0a451777c580da7e35ef36023d93","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like and comment!","listText":"Pls like and comment!","text":"Pls like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143477955","repostId":1193792352,"repostType":4,"repost":{"id":"1193792352","pubTimestamp":1625813874,"share":"https://www.laohu8.com/m/news/1193792352?lang=&edition=full","pubTime":"2021-07-09 14:57","market":"us","language":"en","title":"Wharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it","url":"https://stock-news.laohu8.com/highlight/detail?id=1193792352","media":"CNBC","summary":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors sho","content":"<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWharton’s Jeremy Siegel says the market pullback is just a ‘hiccup’ and to expect more like it\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/08/jeremy-siegel-says-market-pullback-is-just-a-hiccup-but-expect-more-like-it.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1193792352","content_text":"Wharton School’s Jeremy Siegelsaid stocks remain firmly in a bull market, but believes investors should ready themselves for more pullbacks like Thursday’s as the Federal Reserve navigates the pandemic economic recovery.\nThe prominent finance professor’s comments on CNBC’s“Closing Bell”came as all three major U.S. equity indexeswere off their lows of the day,but still solidly in the red. TheDow Jones Industrial Averageclosed down nearly 260 points, or 0.75%, while theS&P 500andNasdaqfell 0.86% and 0.72%, respectively.\nInvestors’ concerns about potentially slower economic growth and the threat of the Covid delta variant, especially in light of the decision to ban all spectators at the Olympics in Tokyo,all weighed on Wall Street on Thursday.\nHowever, going forward, Siegel said he feels the biggest risk to the stock market is not the delta variant derailing a pandemic recovery. Rather, he said it is inflation data and its implications for the Fed’s monetary policy.\n“I don’t think this bull market is over. There’s just going to be more hiccups as the Fed comes to the reality that they’re going to have to start to tighten,” said Siegel, who last monthcorrectly predictedthat members of the Fed’s policymaking arm would move up their timeline for when they expect to raise interest rates from their near-zero level.\nFed Chairman Jerome Powell and other central bank officials have maintained for months that the inflationary pressures seen in the U.S. are temporary increases stemming from the unprecedented economic reopening after manifold pandemic-related disruptions.\nAs a result, Powell believes the Fed’s highly accommodative monetary policy remains appropriate and necessary to help the U.S. labor market heal after millions of Americans lost their jobs due to the Covid crisis.\nSiegel is among the band of market observers who feels the Fed is making a mistake by sticking with its emergency policy stance, which in addition to near-zero interest rates includes at least $120 billion a month of asset purchases.\nSiegel told CNBC he’s very focused on next Tuesday’s Consumer Price Index report, followed by Wednesday’s Producer Price Index. The CPI, in particular, has the potential to be a “market-moving event” if it comes in higher than Wall Street expects, he said.\n“If we had a really hot CPI and the day following PPI, I wouldn’t be surprised if we get some announcement at the next Fed meeting — at the latest, it will be August, I believe — when we’ll get that tapering move,” Siegel said.\nThe Federal Open Market Committee is scheduled to meetJuly 27 and 28. Then, the Fed’s yearly economic policy symposium is set forAug. 26-28. in Jackson Hole, Wyoming.\n“I think the inflation is going to be running very hot, and I think the Fed will be forced to be respond earlier than, I think, a lot of people think, at least at this point,” Siegel said.\nSiegel said he thinks if the Fed “sensibly” changes its tune on inflation being transitory, the market “will say they’ve caught onto it. They’re going to be walking a tightrope over the next several months with the data that’ll be coming in.”\nBy contrast, the professor and longtime bull said he sees risks to the market if that does not play out.\n“We’re still in a strong recovery. The question is, is the Fed delaying too much that it’s going to have to pull back too strongly later on? … Other than that, I think stocks, you know, earnings are blockbuster and they’ll continue to be blockbuster this year, supporting it.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":23,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}