Take Dow 18K to the bank this year, pro says


Through the prism of The Good, The Bad, and The Ugly on Wall Street, here are three top stories for investors this Tuesday.

Dow 18K (still on) but with an asterisk: Pro

The Good: Longtime stock market bull Jeremy Siegel told CNBC that he's standing by his Dow 18,000 prediction for the end of the year. He cited as reasons second half economic growth of 3 to 4 percent, earnings near $120, and the start of Fed rate hikes in the spring or summer of 2015. But the Wharton School professor said stocks could see some near-term turbulence after the Fed meeting ends on Wednesday.

Read MoreRude awakening for investors: Siegel

Carlos Barria | Reuters

The Bad: Even though Alibaba upped the price range for this week's IPO, the offering may be adding pressure to momentum names. Market watchers say investors are selling some high-flyers to make room for Alibaba stock in their portfolios.

The Ugly: The California Public Employees' Retirement System plans to exit hedge funds entirely, liquidating its investments of $4 billion in those vehicles. CalPERS, the nation's largest pension fund, wants to reduce costs and complexity.

—By CNBC's Matthew J. Belvedere.