and ask the wharton professor, jeremy siegel, what today's news means for the bull run in stocks first let's show you the scorecard with 60 minutes to go in regulation. we're green across the board nasdaq is the winner today it's pretty much how the day has gone for the majors. the russell as small caps get a nice boost tech is leading. almost every sector has been in the green and on this economic optimism it does take us to our "talk of the tape." whether what happens today clears the way for stocks to make their next move the wharton school professor of finance, jeremy siegel nice to see you. welcome back >> thank you, scott. good afternoon >> what's this mean now for stocks >> it's interesting and actually rick santelli referred to it, even though we hired 550,000 new jobs in the third quarter, interestingly enough hours worked is virtually flat the good news about that is that the gdp increase is going to be almost all productivity and we're looking for third quarter 2.5 to 3 that's productivity. the good news about that, it was a little hotter on wages, but that's mostly producti

for what's at stake, let's welcome in professor jeremy siegel welcome back it is nice to see you and have you with us as always. >> thank you, scott. happy to be here >> how does this market look to you? >> it looks strong to me i mean, i don't see any really drop in the momentum i mean, i think it surprised everyone it certainly surprised me. it surprised the fed gdp is going to be reported next week and looks to be over 3% we're moving into the fourth quarter, i think, at 2.5 to 3% rate and by the way, what that means, i think long-term interest rates are going to continue their up trend. i still think the fed is going to lower them but certainly not as much as they said or as many of us felt but, you know, it could be a quarter point or it might even be a pause if we get a strong labor market report a week from today. >> okay. so, let's -- there's a lot in there. and i want to take it, sort of, step by step the backup in yields has obviously made the market a bit uneasy how much more do you think they could back up? and as long as yields are going up for quote, unquote the right r

you heard what jeremy siegel had to say. maybe equities can withstand a move higher in rates, but if anything, it's a change of calculus, i think, to where many saw yields going in the wake of what the fed is doing. >> well, we do think equities can withstand those higher yields around the mid-4% range. if you take that to mid-5%, i think the calculus changes meaningfully, but we don't think it's going to get there. the difference is when you have a move up in yields like we're having today, the perception at least is very immediate. whereas the growth aspect, we actually expect to be quite strong in the 2025 and throughout 2025, we expect the impact of fed cuts to really have a stronger effect on the economy than people are anticipating and growth to really come in. but that has to prove itself. it has to prove itself over time. the impact of the yields is more immediate in that sense and that's what can move around markets on a day-to-day basis. if we step back, we think growth will be forthcoming, that's going to be what

just in time for megacap earnings next week we'll ask our experts what is at stake, including jeremy siegel60 minutes to go in regulation looks like that. there's the record high for the nasdaq tech and come services by far the best sectors today elsewhere, tak

and ask the wharton professor, jeremy siegel, what today's news means for the bull run in stocks firstn. we're green across the board nasdaq is