BlackRock's Doll sees S&P 500 at 1,250 by year-end 01/06 12:43 PM
By Daniel Bases
NEW YORK (Reuters) - BlackRock Inc's (BLK:$235.21,00$-4.40,00-1.84%) vice chairman and chief investment officer for global equities Bob Doll said on Wednesday he sees the Standard & Poor's 500 stock index reaching a level of 1,250 by year-end.
Doll told reporters he is not concerned about U.S. inflation given overcapacity in all sectors of the economy, citing labor and manufacturing capacity.
He said he favored the healthcare sector, information technology and telecommunications companies over financials, utilities and materials stocks.
"We are at the beginning of the removal of uncertainty over healthcare reform," Doll said, adding that managed care and healthcare services companies will likely benefit the most as they were the "ones punished most by uncertainty over legislation."
Doll said he expects the U.S. economy to grow by a little more than 3 percent in 2010, due in large part to the massive government stimulus program that sees much of the spending coming this year, while another major bump would come from inventory restocking.
"Inventories alone, which got to depression levels, need to be replenished. That will add at least a percentage point to GDP here," he said.
Doll reiterated his expectation that equities will outperform U.S. Treasuries while emerging markets will outperform the developed markets.
He expects U.S. companies to benefit from greater earnings growth due to operations from outside the United States.
Sounds just like all the naysayers that have been lined up on Fox since the DOW was 6,500 saying the BHO admin is ruining the economy and you should all get out. I have remained and invested more in the Market more over the past year than ever before.
Just like the alarmists talking about the NWO and the Buildaburgers. Some day, some day, some day all the while they tourment their lives and miss the train.
What will Hannity and the rest say when we hit 1250 on the S&P.
First off genius, it's only January I'd like to see the crystal ball this guy is looking into to know what the market will be in December. The housing market was fine in Sept of 2008 but in November it nearly crashed the economy. Why was that, oh yes, the liberal loving companies of Fannie Mae and Freddy Mac. Oh and why were they the main cause you might ask... Community Reinvestment Act, brainchild of liberal progressive Jimmy Carter, championed by liberal progressive Bill Clinton, defended by liberal progressives Barney Frank and Chris Dodd.
It's common sense, if you can't afford it you shouldn't be getting the mortgage, but the liberal progressives rewrote the laws to force banks to write the mortgages.
All you have to do is look at history, the Vimar Republic is the most blaring example. A nation cannot monetize it's debt and expect to survive. That is exactly what these buffoons are doing. Why else are they not supporting the measure to audit the Fed.
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Obama=The Fourth Reich,
Just look at the parallels of the Nazi regime and the Obama Administration amazingly similar arent' they.
Oh and tell just where o where is all this stimulus money going to. Places that don't exist? and if they do exist it's not where they claim it to be. When is the deficit going to be reduced, I'll tell you, no time in the next few hundred years. If these clowns are permitted to keep on the path they are taking this country down the value of the dollar will be absolutely 0. It's pretty bad when the Russian's, French, German's and even the largest holder of US debt China is lecturing us on how we are on an unsustainable path.
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Obama=The Fourth Reich,
Just look at the parallels of the Nazi regime and the Obama Administration amazingly similar arent' they.
REv- Unemployed, it is going to take some growth to get everyone back to work. The recession (negative growth) forced people out of the jobs market. The stimulus helped the economy stay afloat and not have us at 15% unemployment and probably saved another 500,000-1,000,000 jobs amd stopped us from going into a recession. Now we are cycling back up, hiring is already starting to increase and just today I heard 2 economists on CNBC say that they expect the jobs to bounce backer quicker than past recessions because the auto industry is bouncing back really well and the inventory in the housing market is drying up quicker than in past recessions. Both industries were part of the bailout and tax credits were given to buyers.
Hard to imagine when a Republican gives tax breaks to corporations and the rich, everyone here applauds. Give it to people with an old car or who rent and create a demand side economy and everyone here screams rape and demise.
Who would ever open a business if their was no demand for their goods no matter what the tax rate is.
Location: land of the Lilliputians, In the state of insanity
Posts: 24,185
Funny how the stock market is up, but jobs are down. Just wait until the stimulus money runs out, and the market starts a real recovery. What will Obama do then.
He will either have to:
-Print money which has been done in Germany causing hyperinflation. No thanks, I dont care to pay a thousand bucks for a loaf of bread, which did happen, look it up.
-Sell more of our debt to someone, for more stimulus. Which wont happen because not even China will buy our debt anymore.
-Or, you tell me what will be next??
By your statment, Will, you must have approved of Bush. The markets were pretty darn good for him, until 2007. So thank G.W. for 6 years of up markets. Especially after he inherited the Clinton recession. But libs tend to forget that bit of history.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
J.F.K. hated liberals.
Last edited by burniegoeasily; 01-06-2010 at 11:52 AM.
Yeah... You're right. Had nothing whatsoever to do with Gingrich having control over the purse strings...
Quote:
REv- Unemployed, it is going to take some growth to get everyone back to work. The recession (negative growth) forced people out of the jobs market. The stimulus helped the economy stay afloat and not have us at 15% unemployment and probably saved another 500,000-1,000,000 jobs amd stopped us from going into a recession. Now we are cycling back up, hiring is already starting to increase and just today I heard 2 economists on CNBC say that they expect the jobs to bounce backer quicker than past recessions because the auto industry is bouncing back really well and the inventory in the housing market is drying up quicker than in past recessions. Both industries were part of the bailout and tax credits were given to buyers.
The auto industry is bouncing back really well? Really? I thought sales plummeted after the "bailout" money dried up. Obama said the stimulus would keep us from even hitting 9% unemployment, and that without it we might hit 10%. Now you're saying it would have been 15%? Admit it, you're just pulling numbers out of your azz. The vast majority of the "stimulus" money hasn't even been spent. Do you think it might be possible that the economy was simply going through a business cycle just like it has over and over and over and over again for as long as I can recall...
Quote:
Hard to imagine when a Republican gives tax breaks to corporations and the rich, everyone here applauds. Give it to people with an old car or who rent and create a demand side economy and everyone here screams rape and demise.
ONLY morons and idiots spout this "tax breaks for the rich" garbage. Roughly the bottom 50% of earners pay ZERO income taxes. How do you give them tax breaks when they already pay NOTHING? You can't. You can only give them a welfare check by taking money from those who earned it and "redistributing" it to those who did not. Those so-called "tax breaks for the rich" give them the capital to reinvest in their business so that they can create jobs and pay people money that they work for and earn. It takes true assclowns to believe that it's better to have the government confiscate rightfully earned moneys so they can give it away to people who did nothing to earn it...
Last edited by ipscshooter; 01-06-2010 at 11:51 AM.
Burnie how can you say that. You say the market is up because of the stimulus. I hear nothing but the opposite on FOX. They say the stimulus is killing the economy and jobs.
I hear the stimulus is pure debt. Don't now tell me that people have invested trillions in the market and they are all wrong and it is just the couple hundred billion of stimulus.
Make up your mind.
Don't worry about selling debt. It won't matter it is just paper that we are transferring over to China. Means nothing right??
Thank You BHO and Dem's
