Stocks edged higher on Tuesday, pushing the Dow into positive territory for the year, as markets continued their March rally. What should investors expect for the rest of the month? Robert Doll, chief equity strategist at BlackRock, shared his market outlook.
“I think we’ll see continued mixed data, but leaning toward the positive side,” Doll told CNBC.
“The thing we need to see is formation of some jobs…that’s the next normal phase in the economic recovery and I think we’re going to get them.”
Doll said he expects to see an uptick in M&A activities in the near future.
“We have an economic recovery that’s sub par—we have corporations with strong balance sheets, good free cash flow in income statement,” he said.
“M&A will be alive and well for the balance of the year… and I think it will be across the board.”
Doll added that he would not be surprised to see a 6 to 8 percent rise in the stock market over the next few years.
- Watch Doll's Previous Appearance on CNBC (Feb. 25, 2010)
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No immediate information was available for Doll or his firm.