Consumers spent a little more money last month,feeling a little better about the jobs they hold,notes Bob Doll,Vice-President and Chief Equity Strategist at BlackRock.We're seeing an improvement in business conditions,improving revenue and will add some jobs soon,but we've got to get past the tightening concerns,the Greek problem.There are more bad debts out there,and that means a sub par recovery.It will be slower than normal:two steps forward,and one step back.
The economy and markets can handle small rate increases.There are political worries,but manufacturing is doing pretty well and inflation is contained.We need to see some job growth.That would be the next step in a normal recovery.The rising price of oil is a sign of global economic recovery.
I've been impressed by the recent mergers and acquisitions,and I think there are a bunch more to come.It will spread lots of different places.I think we'll see continued mixed data,but leaning to the positive.My view is that European growth will be slow.They've got some punching to do to get out of the mess,Mr.Doll believes.
BlackRock,which acquired Barclays' iShares funds,has more than a trillion dollars under management.
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