Gabriel F. Burczyk
Blackrock’s Doll predicts 1,000 this year for S&P 500. BlackRock (BLK) CIO Robert Doll predicts equity markets in the U.S. will host double-digit percentage gains this year. In his midyear outlook report released yesterday, Doll projected that the S&P 500 will hit 1,000 by the end of the year. He warned, however, that markets remain volatile and the S&P could suffer some near-term declines that could take the index to 800 to 850 before it crosses the 1,000 mark. Doll said that energy, health care, and technology sectors will present some of the best opportunities over the second half of 2009 and will outperform utilities, materials, and financial stocks. He said financials have bottomed, but this sector “will likely continue to lag as many financial companies experience balance sheet problems.” Doll stated that the worst of the recession is now “in the rearview mirror.“ He also predicted that U.S. markets will perform better than European markets, but emerging markets will likely outperform all developed markets for 2009.
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