The S&P 500 should gain an additional 6.6 percent this year to begin a decade of 8 percent annual returns as concerns of a return to recession prove unfounded, BlackRock Inc. Vice Chairman Robert Doll said today.
Nuveen Asset Management hired Robert Doll as chief equity strategist, less than six months after he announced his retirement from the same role at BlackRock Inc., where he was known for his bullish stance on stocks.
After U.S. stocks gained 30 percent last year and almost everything went up, measures of Standard & Poor’s 500 Index price momentum are slipping just as concern mounts that emerging markets will snuff out the rally.
U.S. stocks will extend gains from a five-year high as corporate earnings increase and central banks maintain policies to stimulate economic growth, said Robert Doll, Nuveen Asset Management LLC’s chief equity strategist.
The Standard & Poor’s 500 Index likely will rally by almost 10 percent by the end of next year as the economy improves and corporate earnings rise further, Robert Doll , vice chairman of BlackRock Inc. in New York, said.