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Bull Market Faces a 5% Correction But Will Keep Going, Doll Says

  • Last decline of 3% was Nov. 2016; longest stretch in history
  • Nuveen chief strategist is buying tech, healthcare, financials
Bloomberg business news

Why the Stock Market Sugar Rush Might Not Last

U.S. stocks are set for a correction of 5 percent or more this year after the longest stretch in history without one, said Bob Doll, chief equity strategist at $172-billion Nuveen Asset Management.

The length of time without a significant retreat in the market -- the last decline of 3 percent in the S&P 500 was in November 2016 -- means investors will get nervous when stocks start to fall, but strong fundamentals will prevent a full-blown bear market, Doll said Tuesday in an interview at Bloomberg’s Toronto office.