Stocks should move higher in 2011, extending the two-year bull market, according to Bob Doll, chief equity analyst at Blackrock. This is due to gradually declining levels of uncertainty as the US and the world economy are beginning to transition from recovery to outright expansion.
Downside risks remain, however. Two of the issues that caused problems in 2010 — the sovereign debt crises and emerging-markets inflation — are likely to continue to threaten overall levels of global economic growth. Another area that bears watching is the US housing market.
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