Blackrock’s Bob Doll says a number of factors are pointing toward stocks grinding higher.
In an interview with CNBC, Doll says one of those factors involves Federal Reserve policy. He thinks the probability of the Fed engaging in more quantitative easing has risen recently, and that is good news for the stock market in the short term.
“I think in the near term that’s got to be viewed as positive for equities,” he said. “We know what [quantitative easing] has done to the dollar. We know what it’s done to the price of gold, it’s likely positive for risk assets — the hope has to be that all translates to better news for the real economy and the nominal economy.”