The Federal Reserve made a mistake when it raised interest rates in December, but that could be good news for the stock market, according to Wharton School finance professor Jeremy Siegel.
Siegel is confident the Fed recognizes it makes more sense to be “patient,” and the central bank is not going to keep hiking rates this year. He also believes a recession is not imminent in the United Sates, even though the economy is likely to slow.
He thinks stocks could post a decent 2019, with gains of between 5% and 15% for the broader market.
Schachter is worried Apple will lose more momentum because demand for the App Store and other services may wane as iPhone sales slow. But he’s bullish on Facebook, arguing that bad headlines about fake news and elections won’t hurt ad sales.
There will also be an episode of “Markets Now” on Thursday at 12:45 pm ET. Kristen Bitterly Michell, Citi Private Bank’s head of capital markets for the Americas, will be joining Kosik to talk about investment strategies in today’s volatile times.
“Markets Now” streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by CNN’s business correspondents, the 15-minute program features incisive commentary from experts.
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