Slowdown, But No Double Dip, From Bob Doll, vice chairman and chief equity strategist for fundamental equities, BlackRock
US stocks are now up almost 10% from their lows in early July. Equity prices have been helped in recent weeks by continued strong corporate earnings. Results for the second quarter continue to come in at a rapid pace, and the current quarter has been one of the strongest in recent years, with close to 75% of companies so far having exceeded expectations. Analyst forecasts for the remainder of 2010 have been moving up as well, although expectations for 2011 have fallen slightly (likely because they were too strong to begin with).
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