Markets “hate uncertainty” and there’s still plenty of that going around, said Robert Doll, chief equity strategist at BlackRock. He shared his insights on the economy.
“We had a horrendous recession, and we’re now in this anemic recovery with a lot of people still thinking that we’re headed for a double-dip,” Doll told CNBC.
“So you put that all together and how can you not be worried?”
Doll said he would like to see corporate America do some investing with the large amount of cash that’s sitting on their balance sheets.
“We’d like to see some dividend increases, more share buybacks…more capital expenditures, more jobs—but [corporations] are going to need more certainty.”
So what does Doll want to hear from President Obama at CNBC's Town Hall event today?
"The president needs to be more introspective…and that would be something great to hear about."
Scorecard—What He Said:
- Doll's Previous Appearance on CNBC (Sept. 10, 2010)
More Market Analysis:
- 'Fast' Traders: Double Digit Returns In 3rd Year Of Presidency?
- POLL: How Has Your Economic Situation Changed?
- 20 Months into Presidencies: Where's the Dow?
CNBC Data Pages:
Major Earnings This Week:
Bed, Bath & Beyond
No immediate information was available for Doll or his firm.