Wharton's Siegel: Stocks 'Not Cheap' on Way to Dow 20,000

The video discusses the current state of the stock market, highlighting that while stocks are not cheap, the Dow is expected to reach 20,000. The path to 21,000 will be more challenging, requiring proof of earnings and positive economic changes. Market indicators like the relative strength index and Shiller Cape ratio are analyzed, with a focus on the impact of corporate tax reform. The discussion also covers the potential effects of rising interest rates on stocks, bonds, and real estate, noting that while 3% yields may seem high, they are not necessarily a challenge for stocks. The financial sector is expected to benefit from rising rates.

What does the speaker suggest is necessary for the market to continue its upward trend?

What potential risks does the speaker identify if interest rates continue to rise?