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Wisdom Tree economist predicts S&P 500 rally as Middle East tensions ease
Jeremy Siegel, Chief economist of Wisdom Tree and professor of Finance at The Wharton School at the University of Pennsylvania, predicts that resolving the Middle East conflict could push the S&P 500 index higher. Moreover, such a scenario could be realized in the coming weeks, Business Insider notes.
The initial market reaction to the United States' direct involvement in the Middle East confrontation was rather restrained. US stocks saw only modest gains early during Monday’s trading session before accelerating later. Meanwhile, oil prices plunged as concerns about supply disruptions through the Strait of Hormuz subsided.
A quick resolution of the regional dispute, according to Siegel, will have a positive impact on the US stock market.
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