Amid a dizzying start filled with volatility and worries of what lies ahead, Bob Doll looks at financial markets and sees a year filled with not much of anything particularly exciting.
The chief equity strategist at Nuveen Asset Management released his list of 10 predictions for 2015, and it's a remarkably staid collection of spot-on Wall Street consensus calls for stocks to finish higher, underpinned by solid economic growth, low interest rates and renewed commitment of investor capital.
"We expect U.S. stocks will rise for a seventh consecutive year, and have a good chance of outperforming cash, bonds and commodities, while also outpacing inflation," he said in text accompanying his predictions. "We expect continued strength in equity markets due to an improving economy, solid earnings growth, an improving job market, rising consumer and business confidence, strong corporate financial health, the stimulus from low commodity prices and financing costs, a rising dollar, and the manufacturing renaissance."
As part of his call, he sees the Federal Reserve raising interest rates and oil falling further before rebounding and actually closing out the year in positive territory.