Bob Doll: Have we reached the end of the rally?

Markets moved modestly higher last week, which helped stocks to return one of the strongest first quarters in history.

On a year-to-date basis, US stocks (as measured by the S&P 500 Index) rose by an impressive 12%, although it is important to note that the pace of growth slowed noticeably toward the end of the quarter, suggesting that the rally has been weakening. Economy and Policy Remain Supportive One of the primary reasons for the recent advance in stock prices, of course, has been that economic data have been surprisingly positive. Additionally, central banks around the world (including the US Federal Reserve) have remained committed to retaining exceptionally accommodative monetary policies. ...