No Double-Dip in the Near Future: BlackRock's Doll

Stocks opened higher Monday, rebounding off of last week's market selloff—then pulled back. Will a rally form and hold? Robert Doll, vice chairman and chief equity strategist at BlackRock, discussed his market outlook.

“After initial thrust off a recession low, you typically get a growth slowdown,” Doll told CNBC.

“And the debate that the market is facing right now is: Is this the typical growth slowdown or is the double-dip going to show up?”

Doll said although most of economic data are coming out on the softer side, he doesn’t see a double-dip in the near future.

“We’re recovering, but it’s a slow one,” he said. “We’ve been in this 1,020 to 1,220 S&P 500 range for more than 9 months and I think we’re going to stay in there until we answer the question of a growth slowdown or a double-dip.”

Meanwhile, Doll told investors to focus on the earnings results in the near-term.

"It’s going to be tough to have a beat we had in the first quarter, but if we can beat in the bottom and topline, I think we’ve got a shot at a trading rally for the summer," he said.

Scorecard—What He Said:

  • Doll's Previous Appearance on CNBC (Jul. 14, 2010)

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Market Views—Across the Board:

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CNBC Data Pages:

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CNBC Slideshows:

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Major Earnings This Week:

IBM

Goldman Sachs

PepsiCo

Johnson & Johnson

Apple

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Disclosures:

No immediate information was available for Doll or his firm.

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Disclaimer