'We’ve seen the lows in March, and we will never see those lows again,' the professor said
That is Jeremy Siegel, professor of finance at the University of Pennsylvania’s Wharton School of Business, during CNBC’s “Squawk Box” segment on Friday, expressing nearly unfettered optimism about the path forward for the U.S. stock market, despite a historically bad jobs report.
Although the government didn’t keep records back then, economic historians estimate unemployment peaked at 25% in 1933. Read: Will the stock market tumble back to its coronavirus lows in March? About 92 years of S&P 500 history says there’s a good chance In fact, the Wharton professor envisions equity markets rising well into 2021 as treatments and vaccines for the COVID-19 disease are discovered.
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