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.
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.
A “double-dip” recession is unlikely, even as corporate earnings and economic reports raise fresh concerns over the strength of a global recovery, said Robert Doll , of BlackRock Inc., the world’s largest asset manager.
Laurence D. Fink used at least half a dozen acquisitions to expand BlackRock Inc. from a boutique bond shop to the world’s biggest money manager. Now the firm, which invests $3.7 trillion for clients around the world, faces a new challenge: Growing on its own.