Name: Iraq more important near-term for oil than Venezuela, says Wharton's Siegel
Uploaded: 2026-01-09T20:57:50+00:00
Duration: 263 s

Speakers

Jeremy Siegel — Professor of Finance, Wharton School

Summary

Jeremy Siegel joins CNBC's Closing Bell to discuss oil, markets, and the broadening trade. He argues Iraq is more important than Venezuela for near-term oil, expects lower oil prices to help, and remains bullish on US equities due to strong GDP momentum and lower rates. He favors non-tech sectors with reasonable P/Es while cautioning that Mag-7 valuations are high and AI competition could disrupt profits.

Siegel says near-term oil is more about Iraq than Venezuela.
He says lower oil prices are good for the broader economy.
He sees strong economic momentum and blue skies ahead for markets.
He endorses market broadening beyond mega-cap tech.
Non-tech stocks have reasonable P/Es that can expand with AI, lower rates, and cloud adoption.
Mag-7 earnings growth is high, but valuations are high and AI competition is a risk.

Ideas

Jeremy Siegel Professor of Finance, Wharton School 1:06

Oil near-term hinges on Iraq, not Venezuela

Siegel says the near-term oil market is more about what happens in Iraq than Venezuela; Venezuela is a long-term issue. He does not give a clear directional oil call, but says lower oil prices would be good for everyone, so the key near-term setup to watch is Iraqi supply and political risk.

Jeremy Siegel Professor of Finance, Wharton School 1:26

Favor non-tech stocks over mega-cap tech

Siegel endorses the broadening of the market beyond mega-cap tech. He argues non-tech companies have reasonable P/Es that can stay flat or expand as they use AI, lower interest rates, and the cloud more fully to lift profits, potentially moving 13-15x P/Es up several notches.

Jeremy Siegel Professor of Finance, Wharton School 2:27

US equities have strong momentum ahead

Siegel sees strong economic momentum going into 2026, with fourth-quarter GDP estimates above 5% despite the government shutdown. He cites lower short-term rates and AI helping companies avoid higher tariffs and labor restrictions, and concludes there are blue skies ahead for the market once near-term bumps pass.

Jeremy Siegel Professor of Finance, Wharton School 3:26

Mag-7 faces high P/E, AI competition risk

Siegel cautions that Mag-7 and tech earnings growth is higher, but their P/Es are also much higher. He says competitive AI breakthroughs could thrash a competitor's profits, making the group riskier than non-tech stocks with reasonable valuations.

This CNBC video, published January 09, 2026, features Jeremy Siegel discussing WTI, Non-tech sectors, SPY, MAGS. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jeremy Siegel · Tickers: WTI, Non-tech sectors, SPY, MAGS

Iraq more important near-term for oil than Venezuela, says Wharton's Siegel

Summary

Ideas

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