Stocks rose on Monday as strong euro-zone industrial data helped calm worries about the debt crisis. Bob Doll, vice chairman and chief equity strategist at BlackRock, discussed his market outlook and the chances of a double dip.
“Double dips don’t happen all that often as long as we have the economy improving, interest rates low, the yield curve steep, leading economic indicators pointing higher, earnings improving, and jobs improving,” Doll told CNBC.
“I don’t think a double dip has a very high probability.”
Doll said the 2008 financial crisis was like "living in earthquake-prone zones."
“The big earthquake was late '08, early '09 and we’re going to have a bunch of aftershocks,” he explained.
“To me, Greece and Southern Europe were aftershocks...nowhere near the damage that occurred late '08, '09 when it almost all fell apart.”
Counterpoint:
Scorecard—What He Said:
- Doll's Previous Appearance on CNBC (Jun. 9, 2010)
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More Market Views:
- Markets Are 'Cheap' Right Now: Chief Investor
- Lots of Bears a Reason to Buy? No, Says Strategist
- Art Cashin: Those 3pm Market Selloffs? Here's Why
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CNBC Data Pages:
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CNBC Slideshows:
Cramer's 12 Stocks to Play the Recovery
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Monday's Top Dow Winners (as of this writing):
American Express
Alcoa
Pfizer
Microsoft
Boeing
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Disclosures:
No immediate information was available for Doll or his firm.
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