Wharton’s Jeremy Siegel on Trump announcing diesel agreement with Russia: Not a permanent solution

ON SOME MEDICARE NEWS. WE'LL TELL YOU MORE WHAT'S BEHIND THAT 13% OR THEREABOUTS MOVE. LET'S GET RIGHT TO OUR TALK OF THE TAPE. ALL THAT LIES AHEAD FOR STOCKS AND YOUR MONEY IN THE WEEKS AHEAD. LET'S GET RIGHT TO OUR HEADLINERS. WELL, PROFESSOR JEREMY SIEGEL OF THE WHARTON SCHOOL PROFESSOR OF FINANCE, OF COURSE, WISDOMTREE'S CHIEF ECONOMIST. GOOD TO HAVE YOU ON. LET'S JUST START WITH THE NEWS. I JUST GET YOUR REACTION TO IT. I MEAN, OBVIOUSLY, ANYTHING THAT'S DEEMED TO BE POSITIVE IN THE ENERGY COMPLEX IS GOING TO BE WELL GREETED BY THE MARKET, WHETHER IT'S A PLAY FOR MIDTERM VOTES OR WHAT MARKET DOESN'T PARTICULARLY CARE AS LONG AS IT SEES THE PRICE OF OIL AND GASOLINE GO DOWN. >> YEAH. >> I MEAN, VERY HONESTLY, I DON'T LIKE IT. >> LOOKS LIKE TRUMP. >> CUT A DEAL WITH THE DEVIL, WHICH IS WHAT I REFERRED TO PUTIN. AND POLITICALLY, I'M NOT IN FAVOR OF THAT, HOWEVER, AND I DID SEE THAT IT WAS A 20 CENT PER GALLON REDUCTION IN THE FUTURES MARKET IN DIESEL RIGHT AT THAT POINT, WHICH HELPS 4 OR 5%. THE SPOKESMAN ON IN THE PREVIOUS SHOW SAID IT WAS MAYBE 2 OR 3 DAYS WORTH OF DIESEL. OF COURSE, IT'S SUPPOSED TO BE INCREASED. IT'S NOT IT'S NOT A PERMANENT SOLUTION AT ALL. IT'S SORT OF A SHORT TERM BAND AID. AND, YOU KNOW, YOU KNOW, CUTTING BACK ON OR ELIMINATING SANCTIONS ON RUSSIA FOR THE INVASION IN UKRAINE, I THINK IS A A VERY. >> UNFORTUNATE CONSEQUENCE. >> YEAH. PAUL SANKEY I MEAN, JUST ON OBVIOUSLY WITH BRIAN SULLIVAN LOOKING AT THE NUMBERS SUGGESTING IN THE OVERALL PICTURE DE MINIMIS. YES. BUT NONETHELESS, NONETHELESS. >> THOSE POSITIVE THINGS ARE HAPPENING. I MEAN, THE. >> MARCH ON AI IS. >> STILL ON AND AND. >> GOING AWAY. AND. YOU KNOW, IT'S THE THE, THE GROWTH PROSPECTS ON THE ECONOMY FOR THE AI REVOLUTION ARE AS INTACT THIS WEEK AS THEY WERE LAST WEEK AND THE WEEK BEFORE THAT. SO, YOU KNOW, REALLY VERY, VERY, VERY LITTLE HAS CHANGED OVER THE, THE LAST COUPLE OF WEEKS IN TERMS OF THE DIRECTION OF THE MARKET. I MEAN, THE DIRECTION OF MARKET IS UPWARD AND, AND NOTHING IS THWARTING, THWARTING THAT AT ALL. >> YEAH. I MEAN, WE HAD A, I GUESS A SCARE YESTERDAY. IS IT FAIR TO CALL THAT REPORT REGARDING OPENAI'S REVENUES SIMPLY SIMPLY THAT. >> YEAH. YEAH. AND YOU KNOW, I THINK WE GOT JIM CRAMER TALKING ABOUT, YOU KNOW, THAT THEY WEREN'T LOOKING AT THE RIGHT EARNINGS. AND IT SHOWS THE SENSITIVITY. LISTEN ANY GROWTH STOCK. ANY BAD NEWS IS IMMEDIATELY GOING TO GET PUT IN THERE. SO LISTEN WE'RE ALL GOING TO HAVE RUMORS. I MEAN YOU KNOW STARTED TWO YEARS AGO WITH DEEP SEA. AND THROUGHOUT THAT THERE WAS THE, YOU KNOW, SITUATIONAL AWARENESS FUND. THERE'S GOING TO BE THERE'S GOING TO BE BUMPS ON THE ROAD. BUT THAT THAT CAR AND OR THAT TRAIN, I SHOULD SAY, CALLED AI IS, IS NOT SLOWING DOWN. >> SO YOU DON'T YOU DON'T HAVE ANY TREPIDATION WHATSOEVER ABOUT THAT TRADE ITSELF AS WE. >> NOT THAT THAT TRADE. I MEAN, WHAT I, I THINK IT'S VERY. LISTEN, THERE'S RISKS. I MEAN, THERE'S GREAT PROSPECTS AND THERE'S GREAT RISKS. I, I DON'T THINK I'VE EVER SEEN THE CONE OF WHAT CAN HAPPEN IN THE ECONOMY BE AS WIDE AS I SEE IT TODAY, WHICH REALLY MEANS YOU STILL HAVE TO BE DIVERSIFIED. AND I'M BEGINNING TO LOOK AT BONDS AND SAY AT THESE RATES, ESPECIALLY THESE REAL RATES THAT I HAVE NOT SEEN FOR 25 YEARS, THIS MIGHT BE A HEDGE AS WELL AS, OF COURSE, THE STOCKS THAT HAVE LAGGED BEHIND THE SO-CALLED VALUE STOCKS. IF THERE'S AN INTERRUPTION IN THE TRAIN AND, YOU KNOW, IT COULD BE IT COULD BE ANYTHING. YOU KNOW, ALL OF A SUDDEN COMPUTE BECOMES NOT AS NECESSARY. A BREAKTHROUGH MEANS WE DON'T HAVE TO BUILD THOSE DATA CENTERS. I MEAN, YOU CAN GO ONE RIGHT AFTER THE OTHER. YOU NEED A BALANCE