Siegel: Bull market is on for 2021

Markets were mostly higher on Thursday.

The S&P 500 rose 0.4 percent to a record high and the STOXX Europe 600 rose 0.6 percent. Asian markets were mixed though, with the Nikkei 225 dipping less than 0.1 percent.

With Fed Chair Jerome Powell committing to continue buying assets for the forseeable future, Wharton School finance professor Jeremy Siegel said on CNBC that the stock market could go up 30 to 40 percent.

“I have never heard a Fed chair so dovish,” Siegel said.

“I would not really be cautious right now. I still think bull market is on for 2021,” he added.