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Thursday, Aug 15
Market's weakness looks to be around for a while while stocks pause, says Bob Doll
- Today's trading was a fast-forward look at how Fed tapering might affect interest rates, as the "fast" rise in Treasury yields rattled stocks, triggering the worst stock selloff since June.
- The market is in a pause mode, observes Nuveen's Bob Doll and it will probably stay that way for a while.
- "I think the next move up requires stronger revenue and earnings growth, which I believe we'll get, but not today, tomorrow or the next day," Doll says. "So we're in a bit of a pause."
- The seismic shift to higher interest rates is likely to keep rocking stocks, as investors assess whether the economy can handle a tighter Fed.