While the US stock market continues to struggle as a result of various institutional and political forces, Jeremy Siegel, professor of Finance at the University of Pennsylvania’s Wharton School of Business, remains optimistic about the state of the market in 2019.

Speaking in an interview on CNBC’s Squawk on the Street, Siegel predicted that equity markets in the United States would have “a good year,” rising in the range of 5 to 15 percent.

    We went from a rosy view to now, ‘Oh my God, there’s going to be a recession.’ The truth will be somewhere in between, and that leaves the stock market very attractive now.

Using the current valuations levels, he said that even if there is no growth in earnings this year, the current realities make it a “cheap market.” He acknowledged that a recession could drag the already-battered markets a bit, but he maintained that this wasn’t going to happen.

CCN | https://www.ccn.com/stock-market-will-have-good-year-in-2019-wharton-finance-prof/