CNBC Stock Blog

BlackRock's Doll: Bet on Positive Jobs Data Ahead


The backdrop for the March employment report numbers “remains reasonably good,” said Bob Doll, vice chairman and chief equity strategist at BlackRock. He shared his insights and market strategy with CNBC.

Dow Jonesing for 11,000

“There are clearly risks," Doll said.

"But if you think about low interest rates, low inflation, job growth right around the corner to come this Friday in this announcement for the month of March, the fact that earnings continue to improve—there are some flies in the ointment, but the path of least resistance continues to be higher and that will continue to be the case.”

Doll advised investors to maintain a balanced portfolio.

“We want some industrial cyclicals, consumer cyclicals, we want some defensive high-quality names as well, given that we are in a global economic recovery."

"But the pace of it, because of the credit problems, is going to be lower than normal," he cautioned. "So you need a foot in both camps."

  • Watch Doll's Previous Appearance on CNBC (Mar. 23, 2010)

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No immediate information was available for Doll or his firm.