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Jeremy Siegel and Adam Parker on what's ahead for the market

The bear case for stocks may soon be losing backers as a pickup in earnings and optimistic economic projections could take stocks to new highs.

Those are the views of well-known Wharton finance professor Jeremy Siegel and Morgan Stanley's chief U.S. equity strategist, Adam Parker, who in an exclusive interview explained why equities remain the best place to be.

"With the bounce back in the domestic economy and in the world economy, there's definitely hope for higher earnings," said Siegel. "In fact, I'd say the levels of stock prices now are actually betting on those higher earnings."

Similarly, Parker notes that the probability of a potential bear market has significantly diminished, a wide sentiment that's expected to support stocks.

PRO subscribers have access to the full interview, which was originally broadcast on "Closing Bell."