Doll: Correction will not derail US bull run

BlackRock's Bob Doll is confident the bull run for US equities will continue despite two consecutive weeks of falls for the country's markets.

Since the peak a few weeks ago, US stocks have fallen about 5%, which Doll believes has been driven by the deterioration in economic data – mainly the rising unemployment rate. However, the group’s CIO of equities says the recent economic deterioration is a “passing trend”. While he expects further fluctuations in data and admits there is potential for a correction, Doll maintains global equities will benefit from the low-growth environment. “Low inflation combined with ongoing policy stimulus should provide a tailwind for higher-risk assets,” Doll says. “Looking at the technical a...