we will hear from a "squawk" master jeremy siegel.ing are still indicated higher even after the games we have seen, dow futures up twooe 23-and-a-half points, "squawk box" will be right back. >>> let's talk markets. joining us pennsylvania jeremy siegel, president of the wharton school of the university of pennsylvania. on the set, byron, i am sure you have crossed paths. every time we hit a new high, jeremy, you kind of like you can wink at us and say, see, here we are again, the first time we have ever been at 1,900 or above on the s&p. so far so good. what inning is this? >> i don't think we're in the 9th inning or the big inning. the big news in 2014 is interest rates. at the end of december, i guess we would be bet a dime for a dollar that long rates would be 3.5%. instead, they're 2.5%. this is very, very important. >> i know some people that put out the surprises, i won't mention any names, that had predicted 4%. yeah, here we are 2.5. so you would tie that no correction and a strong stockmarket, they are related. everyone is w

it was a sea of red yesterday joining us is jeremy siegel professor at the university of p. uest host jay jordan who has taken the bearish side on post-things. jeremy, maybe you could convince the gentleman to my right, how are you feeling ab things right now, jeremy? >> well, i think two major things that have changed this year is the long-term interest rate picture. everyone expected the tenure to be 3.5 by now on the way to 4. it's closer to 2.5, i, myself, i to the interest rates keep going up. now i think we will have low interest rates on that long term for quite a while. no matter what town allen says this morning. think of what stocks should be valued at. if the long term ten year is 2.75%. i am sticking withpy forecast of 18,000 for the dow and 2 foul. for zap p s&p by 84 end. >> jay is making faces. go ahead. >> not faces. i'm smiling. jeremy, given your view, what do you think of the bond mark, are you a buyer of bonds or would you recommend given the potential risk of interest rate volatility? what is your view on volatility? >> i'm not positive on bond at all. my

if you are long term or moderate risk taker you should have literally this is what jeremy siegel did,ve 120% of your money invested in equities. if your invested longer than ten years, looked at the regression analysis and study this very snow other place you should have your money but in ownership and those early years are the most crucial years so they are screwing up the rest of their lives if they don't get invested right away. stuart: a personal story, back in the early 1980s when i r as came in i put money into an i r a and i left it there and it was a broad based mutual-fund and i never touched it and 30 years later believe me, the value of compounding over a 30 year period is fantastic. >> that is the lesson of warren buffet. if you study his numbers they are not great. the genius of warren buffett is he is an old guy who was invested for very long period of time. that is the beauty of compound in exactly what you said. >> i will millennials watch me say this because 52% of millennials have all their savings in cash compared your generation which was 23%. is wise to look beyon

ron is up next along with wharton economist jeremy siegel when we come back. ♪ ♪ ♪ ♪ [ male announcer rates for great rides. geico motorcycle, see how much you could save. >>> welcome back. mixed day on wall street today. this feels more like what we've had recently. yesterday, boy, monster rally, everybody was higher. not today. the dow is up 13. the s&p up a fraction. if they close in higher territory, an all-time high. small caps negative. we're getting the kind of divergence again that we've seen recently here >> even as we were noting the intraday highs. now the question is will the dow go negative here as we have 45 minutes still to go. turnaround tuesday. >> here we go again. >> with all the green arrows. >> for quite some time the fed has been focused on two factors. employment and inflation. mandate after all but in fed chair yellen's latest testimony things changed a bit. mentioned housing pretty prominently. >> and according to the ron insana, his piece right now on cnbc.com is getting a lot of attention about that. it says here mr. insana joins us right now. >> yeah. when