Wharton’s Siegel: Dow Will Reach 15,000 by Year End

Wharton economist Jeremy Siegel says the Dow Jones Industrial Average will hit 15,000, and maybe even 17,000, by year’s end.

“There are two major factors that are depressing our market 1,000 to 1,500 points,” Siegel tells CNBC: Europe’s economic problems and the looming “fiscal cliff” when a host of tax cuts and spending increases expire at the end of this year.

Siegel is optimistic that Congress will avoid the fiscal cliff and tackle the deficit, though he believes there is very little incentive to do so before the November elections.

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