also with us, jeremy siegel, he correctly predicted the dow would hit 16,000 before the end of the yearet's find out, professor siegel, you've been strong, wrong, and you've been right. are you calling for more gains? >> i think so. my data shows that the actually fair market value based on current earnings for the dow is probably around 18,000. now, it doesn't mean we're going to get there right pay way or we're going to get there in a straight line. boy, we've had a long time without even a 10% correction. but i don't think this bull market is over yet. i still think there's good gains to come. >> we don't care so much about current earnings, do we, professor? we care about future earnings. >> right. well, what i meant is the current projections of future earnings. and, you know, we had an earnings gain this year over last year of about 10% to 12% which is pretty good in a very slow economic growth situation. if we have a little speed up in economic growth, current projections are another 8% on next year. so it could go higher. we have had disappointments through the last few years fr

. >> lost a little bit of steam at the end here lori: mayor my-jeremy siegel wharton school of businesse. nicole what is the latest. >> let me give what you is going on here. the dow jones industrial record high today. of the we broke 16,000. s&p, 1800. kick it off with tesla. that is a name to watch. that is 200-dollar stock. this month down 25%. >> facebook shares declining today on concern that the social network popularity among younger users is fading right? >> right >> wunderlich had downgrade. [closing bell ringing] >> we were up the 16,000 level. more than psychological than anything else. up on the day on the dow but lower. underneath the 16,000 mark as you can see. looking at numbers lori: let's get to the front page headlines. new york fed president bill dudley feels more optimist i can about the recovery. as growth picks up he expects to see substantial improvement in labor market conditions. that probably adding to late session selling today. >> exactly. homebuilder confidence stablizing in november after falling two straight months. national association of homebuilders say

john bogel, jeremy siegel. guys trading in and out their records. >> it's mixed. i agree. investor should buy and hold. what happens is the way the world works linkedin, twitter, news passes around so quick, everybody thinks they are a trader. everybody tries to trade. they think they are smarter than everybody else which is a frustrating point when you think about these guys who say they are frustrated with the market. >> it's bad for your health. bad for your mental health. the economy is rising. no inflation. what's wrong with this market? >> there's nothing wrong with this market. people are nervous. earlier in the year i wrote a piece equities, there's no alternative. i really believe that because if you look to get returns above the rate of inflation, there's really no other choice. the fed is buying about 75% of the net new issuance of treasuries this year and this also talks to the disconnect -- >> indirectly. >> indirectly. >> but this talks about the disconnect that kenny is talking about because this is one of these things where the haves, actually a lot of thes

be wharton professor jeremy siegel is next with his big call. in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. pop in the drum of any machine... ♪ ...to wash any size load. it dissolves in any temperature, even cold. tideod pop in. stand out. ♪ ♪ >> a very good afternoon, everyone, i'm lori rothman sitting in the for liz claman who is on assignment today. the dow jones industrial average passing the 16,000 mark for the first time ever right now just shy of the milestone. the s&p hitting 1800 for a moment before slipping just below that moment. back to dow, 15,997, now 996. we've got our eye closely focused on the dow. boeing, meantime, helping to push the dow higher after it won about $100 billion worth of new orders for its new passenger jets on the first day of the dubai air show. shares of boeing are trading up a lot on news, 1.6%, 138.34. take a look at boeing over the last year, the stock

. >> dow 20,000, that's what jeremy siegel said this morning, jim. >> i think next year could be a 10% gets you close to jeremy's number. >> true. >> i wouldn't be fevered about it, but 18,000, 19,000 looks doable next year, provided the negative surprises we all know about don't happen which i think on balance is the case. >> thank you very much for joining us and sharing your views on the market this morning. >>> thanksgiving day coming up. holidays putting a major dent in one key area of the market this week. [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutionizing power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer