Equities may have reached nadir - BlackRock's Doll

Modest improvements in economic indicators suggest equities could have hit their nadir, says Bob Doll, BlackRock's vice chairman and chief equity strategist for fundamental equities.

Stronger retail sales figures, more positive employment data, and an indication than investors are moving from bonds to equities were all supportive of the market rally that took place last week in the US. Meanwhile commodity price increase suggested an improvement in economic growth, and noises from the White House hint that tax cuts could be in the pipeline. Finally, Doll says surveys of investor sentiment are revealing on the state of the economy. "Recent sentiment surveys have pointed to extreme bearishness, which historically has been a sign that equity markets were at their nadi...