Siegel on Stocks, Euro Parity

While the market has struggled in recent weeks, Wharton professor and author Jeremy Siegel remains confident that the Dow Jones Industrial Average will hit 15,000 by the end of 2013. Siegel tells Bloomberg that given the recent problems in Europe and the “fiscal cliff” that the U.S. faces, more of the gains may be pushed into 2013 rather than this year, but he still thinks the Dow will reach that 15,000 target. He also says the Euro could get pushed down to parity with the U.S. dollar in the next six months as part of the resolution of the European debt crisis. Siegel adds that fear of the U.S.’s fiscal cliff have led investors to already price in some very bad situations, and that if the Obama Administration extends the Bush-era tax breaks — which he thinks it will — the market should get a big bounce.