Over the short-term, we would point out that markets really haven’t had much of a pause or correction in recent months, which could mean stocks are overdue for some sort of setback. Over the long-term, we still expect equity prices to continue climbing. But increases will likely be uneven, with greater dispersion and more significant downside risks.
Bob Doll is chief equity strategist at Nuveen Asset Management.
1 Source: Morningstar Direct and Bloomberg, as of 2/17/17