The Dow Jones Industrials Index is now over 24,000, and there are experts who are predicting it to go higher by the end of the week.
How about 25 thousand by the end of this week? Jeremy Siegel at the University of Pennsylvania could see it.
“The corporate tax cut is particularly what the market wants,” Siegel told CNBC. “That could boost earnings by 8% or so, and that’s a positive for stocks.”
Financial planner Richard Rosso told KTRH he doesn't think Siegel is wrong.
“The momentum behind the market is very strong right now,” Rosso stated.
But Siegel also says he doesn't see this kind of performance continuing next year, and Rosso is right there with him as well.
“You are going to have lower returns in almost every risky investment that you touch. You just have to be aware of that as an investor,” Rosso explained, adding that earnings growth is not going to meet the expectations of stock prices next year.