liz: let's find out if jeremy siegel l sees that. jer is, of course, the wharton sl school of business finance professor. first on fox business. do you see something like that, a meaningful decline in the data, and if so, would they reverse it, and what would it take? >> well, first of all, i don't see meaningful decline in the data, and i don't think the fed sees it. i think janet yellen basically said our forecasts are that this was temporary. however, she did say if it did deteriorate, they would consider pausing or reducing the amount of the taper. so, you know, if you're a bull, that's what you wanted to hear. you want to stay the course in continuity. we had that word right at the beginning, and that's so important for traders and the fed. liz: exactly. >> but flexibility. she wasn't saying in stone we're always going to taper 10 billion, and i think the market liked that. and certainly, as you mentioned, we cannot dismiss the fact the republicans voting on the debt ceiling. we all remember in the last 18 months how that's been

x stock-market guru jeremy siegel accurately predicted last year's equity rally makes the call on foxs. tesla stock get to supercharge boost from china when ceo elon musk continues his electrifying investors or rival bmw, take some of the voltage out of tears. we have a bull bear debate. g

. >> the whole world disagrees with me but i'm with jeremy siegel.ecamp what are you doing here? i'm not letting you out of here until we get some strategic advice. what's up? >> we're buying and selling but i'm looking for things to buy. our portfolio has hung in very well. a lot of medical care, health care, biopharma stocks. a lot of technology, google and facebook has traded up nicely. so i think there are areas you can play and i always liken to it a team. if you can find enough players to field a team, build a portfolio put the money out there. if it's so narrow you can only buy one or two areas it's not worth doing. it's still worth doing. toifr environment. i think this will be a picker's market. the market is already showing us that and the other area that i think investors need to focus on is domestic oriented businesses versus multinational and versus international companies because of the impact of the dollar. >> i got to leave it there. thank you, everybody. now we've taken a look at the state department's long awaited report on the keys

randy you feel we'll be flat to lower for 2014, even though as we had jeremy siegel, the professor from wharton who called many a bull and bear market saying these are the correct conditions for stocks to move higher. why do you disagree? >> i think 2014 is going to be a transition year similar to 2007. i think we're going to see flat to down market with increase in market volatility. liz: why? >> well i think we've had a five-year bull run. i think there is extreme bullish sentiment at this point f we're frank, the fed has not taken off the training wheels in the economy yet. david: well, larry, kind of gets to your point whether the conviction is really there. again, one day does not a trend make so we'll have to wait and see what happens tomorrow, larry but is it conceivable the pullback is over and that this is the beginning of a trend? >> yeah, absolutely. let's keep in mind, conditions are changing, they're not collapsing. we're seeing cool-downs in the united states and china. but we're seeing upside momentum in europe some in general we're not collapsing. we're just cooling off

jeremy siegel and wharton professor and stock market guru said yesterday's rally was a big bet on janet> the market likes continuity. of got to know what ben bernanke is thinking. they look at yellen. that is continuity from that. no surprises. resolution of uncertainty is so important. you had basic move toward rick risk-on market. liz: why do we have a reaction totally, meh? is this reflection after short-term shift or has janet yellen broke new ground on capitol hill? we'll see. joining us diane swonk, mesirow. markets puffed up like a blowfish. today some of the air came out but does her punch still have power behind isn't. >> what you saw yesterday, not only continuity, but janet was in the trenches. in the fed before ben bernanke was at fed. she worked in the fed in 1970s. the on the board in the 1990s. fed the president in the height of the trenches during the crisis. she is crafting a message along with ben bernanke. that is part of the reason you saw continuity as well. it is not just handing out the baton but someone who was all part of the same time team. liz: all part of the

off 24.aq we have jeremy siegel who will tell you why this could be the most compelling case for stockse notorious bull market predictor is next. ♪ >> i may be filling in for adam today, but it doesn't mean you can't get a little insight in action. earlier today, he made the case -- >>ocks all stop rex this is brought to us from the strategist at rbc. he went back 40 years and found an incredible correlation and determine day 1% move in gdp grows to mastech product led to on smb companies if you put them together and that translate to a 6% move for stocks. that's why the big picture matters and that's also what you call operating leverage. if gdp accelerates later this year, consensus estimates are too low you can understand why banks will go up the cause they are levered at 12 to one. the banks ares still having to deal with a lot of regulation that too hard for me to wrap my head around. regulation that we don't even know what it's going to be because it hasn't been written yet all stop let's focus on industrials and have operating leverage. the 81 industrial companies and said show m

jeremy siegel, he's bullish, he says dow 18,000. he'll be hear to tell us whether the data could give stocks the boost they need. >>> coming up, we tee off on the economy, washington and silicon valley with guest host scott mcnealy. he joins joe and becky live from pebble beach. right after the break. >>> our guest host this morning, tech visionary, scott mcnealy, co-founder of weigh in, which is an innovative social platform. we love having you on. i love, you know, when we talk politics and stuff. i enjoy that. watching you last night, we had a panel on technology and i don't understand everything you're saying but you really are a tech visionary. i just want to know, my first question is, you're going through college. what was your pager? you said there was no computer science major back then. what was your major. >> captain of the harvard golf team which was my primary focus, sort of like being the florida state snow ski captain. i majored in economics and wrote an honors thesis on antitrust. >> you don't know how to write code.