Jeremy Siegel: With tech down for the count, a 'surprise' move could lead the market higher
The stock market can "absolutely" go higher even without technology stocks leading the way, Wharton School finance professor Jeremy Siegel told CNBC on Friday. Tech stocks, which have delivered the best returns in recent years, have been hammered lately. October was their worst month since 2008. "We might get surprised by [investors] moving into some more dividend stocks even in a rising interest rate environment because bonds wouldn't be good and people who don't want the risk of tech might say, 'Hey, I want stocks that have had long-term good dividend performance for income,'" Siegel said on "Closing Bell." ...