Finance professor at the Wharton School of the University of Pennsylvania, Jeremy Siegel, praised President-elect Donald Trump as the most pro-stock market president amid the strong gains.

“President-elect Trump is the most pro-stock market president we have had in our history,” Siegel told CNBC’s “Squawk Box” on Monday. “He measured his success in his first term by how well the stock market did. You know, it seems to me very unlikely he’s going to implement policies that are going to be bad for the stock market.”

Since Trump’s Election Day victory, the S&P 500 rose 4.66% last week, marking it as the best week since November 2023. Speculating on why the markets have seen such gains, Siegel said that people are likely reflecting on Trump’s 2017 corporate tax cuts being extended.

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