The major indicators are pointing to a jobs growth, said Bob Doll, vice chairman and chief equity strategist at BlackRock. He shared his market outlook.
“All the leading indicators for jobs are pointing to some good numbers,” Doll told CNBC.
“We’ll get them real soon and investors are behaving in this cycle like they do every other cycle.”
U.S. employers cut a smaller than expected 36,000 jobs in February, leaving the unemployment rate steady at 9.7 percent. The data bolstered views the labor market was on the brink of creating jobs.
Doll said he expects investors to eventually return to the stock market when bonds turn out to be “pretty flattish.”
“The more important part right now is cyclical recovery—the cyclical stimulus is overpowering those secular headwinds and that’s what the market is telling us and investors need to recognize,” he said.
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No immediate information was available for Doll or his firm.