Jeremy Siegel, WisdomTree Chief Economist, highlighted in a CNBC interview that AI significantly drives current stock market momentum, contributing to about 25-30% of market capitalization.
AI’s influence on stocks raises investor interest in equities amidst economic challenges, with Bitcoin also performing well despite macroeconomic uncertainties.
Jeremy Siegel, Wharton Professor Emeritus, highlights AI’s significant impact on current markets. Siegel notes AI dominance represents 25% to 30% stock market capitalization.
He emphasizes the disparity between Wall Street and Main Street, suggesting growth in AI-driven stocks. Siegel cautions about macroeconomic uncertainties, notably the ongoing government shutdown.
“The momentum is a very powerful factor. And the momentum is there. I do want people to understand…Wall Street and Main Street are not the same. You have AI pushing a group of stocks that are 25 to 30% of the market cap…An index investor can continue to do well, even though the economy…is facing some challenges. First of all, government shutdown. I don’t want it to last much longer.” — Jeremy Siegel, Chief Economist, WisdomTree
Bitcoin Resilience Amid Economic Pressures
Despite economic challenges, Bitcoin remains strong, attracting investor interest. Ethereum and altcoins lack significant movement or news.
Potential financial impacts include AI-driven growth despite economic hurdles. Market observers anticipate changes in investor sentiment as AI stocks shift dynamics, emphasizing AI’s pivotal role.
AI Stocks Compare to 1999 Market Boom
Jeremy Siegel compares AI stock momentum to the 1999 market boom. Bitcoin‘s current performance mirrors previous high-stakes periods, showcasing its resilience.
Kanalcoin underscores AI’s role, predicting continued AI-driven stock momentum. Markets might experience a cyclical surge before possible corrections, reminiscent of past bull markets.
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