Bob Doll, BlackRock chief equity strategist, discusses the best way to play the boost in U.S. markets on the heels of Spain’s bank bailout, including a look at cyclical stocks and sectors to play.
Here is a brief summary of what he said:
* Europe is taking steps in the right direction. Like the U.S. a few years before, the EU is throwing things on the wall and seeing what will stick; there is no right answer.
* Europe steps in the right direction to restore confidence.
* The U.S. economy seems to be okay and muddling through.
* Doesn’t think that the cyclical bull market is over, but we need sustained policy response to head it up.
* He is a buyer of cyclicals. Energy is hit hardest, and there are good opportunities.
* Industrial names are also interesting.
Here is the video:
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