- Fed Sanguine About US Recovery, Worried on Jobs
- Amended Berkshire Filing Reveals No 'Secret' Holdings
- In Time for Holidays: More Gloom and Doom on Economy
- Turkey Day 101: How Well Do You Know Your Bird?
- Privately Held Facebook Creates Dual-Class Stock
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Gambling Drunk, Eggos on eBay & More: Your Emails
- Buyers Look for Bargains at Luxury Condo Auction
- S&P to Hit 1,200 by Year-End: Chief Investor
- Amended Berkshire Hathaway Filing Indicates No Secret Stock Stakes at End of Q3
- Facebook's Biggest-Ever Holiday Shopping Season
- Facebook's New Dual Class Structure - Slow Steps to an IPO
- 5 Big Bank Stocks Investors Should Consider: Strategists
- Gambling Drunk, Texting to Live And America's On Sale - Your Emails
- Nov. 24: Unusual Volume Leaders
- NBA D-League On The Rise
- 3D's Tipping Point and Your Living Room
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- CNBC Anchor Takes a Sabbatical
- Buyers Look For Bargains At Luxury Condo Auction
- Privately Held Facebook Creates Dual-Class Stock
- NBA D-League On The Rise
- FDIC Fund Falls into The Red, Bair Urges Lending
- On Twitter, Beware False Prophets
- 10 Holiday Cocktail Recipes from Top Mixologists
- Just In Time for Holidays: More Gloom and Doom on Economy
Text Size 
Associate Web Producer, CNBC.com
The price of oil is crucial for a stable economic recovery, Bob Doll, chief investment officer for equities at BlackRock told CNBC Monday. He reiterated his opinion that stock markets are likely to end the year higher but they will encounter some hurdles.
"We've been using a broad range of $60 to $80 (for the price of oil), we're kind of stuck in the middle of that. If the emerging markets were getting back on their feet as it looks like they are, they'll be using more oil," Doll told "Squawk Box."
"Given the current state of the world economy, getting above $80 would be a bit of a problem," he added.
But the energy sector is becoming very attractive, as "stocks have moved up some, but have lagged the price of oil," Doll said, adding that he likes National Oil Well [NOV
Loading...
()
]and Marathon [MRO
Loading...
()
].
Stock markets are likely to correct at some point between now and the end of the year but will still end the year higher, according to Doll.
"Short covering is still taking place. I think we will get some bump between here and the end of the year, then maybe we will come back," he said.
People "like to worry" about the autumn months, as most stock market crashes happened in October, when investors come back from holiday and look to the year ahead, he said.
A good indicator of how the stock market is likely to fare is the number of transactions by insiders, according to Doll, who added: "I wish there were some more insider buyer."
"We're beginning to get some good news on top of the bad news so the market is climbing a wall of worry," he said. "My guess is, it's going to get bumpy and volatile in both directions before long."
- Remember when auto shows were major events where new models could generate buzz?
- CNBC’s Mike Huckman visits a cutting-edge plant to see how the flu vaccine of the future is being made.
- People who bottle up their anger at work are up to five times more likely to suffer a heart attack, a study found.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes