Doll’s Deliberations

Bob Doll reviews recent market gains and the drivers behind them: optimism about a temporary labor slowdown, expectations of Fed easing, and strong corporate profits—especially among mega-cap tech companies—while warning that equity valuations are already elevated.

He recommends a cautious stance: prefer equities over bonds on a 6–12 month horizon but keep a neutral overall equity weight, modestly underweight U.S. exposure and over...

Bob Doll reviews the latest market action, noting a weekly pullback despite strong rallies and top-performing sectors like energy and utilities.

He argues that accommodative central banks and rising corporate profits have kept risk assets elevated, while stretched valuations, rising gold, and high AI stock multiples create vulnerabilities.

Ten key takeaways cover GDP forecasts, labor market cracks, margins and valuation metrics, an...

Stocks extended gains after the Fed’s 25bp ‘risk-management’ rate cut, with major averages and sectors like tech and communication services hitting new highs. Economic growth has cooled but is not recessionary, while inflation remains stickier than policymakers would like.

Monetary conditions are becoming more accommodative, supporting asset prices for now, but rich valuations and the prospect of a renewed rise in bond yields pose ...

In this episode Bob Doll reviews the latest market moves, noting a record-setting stock rally amid a dovish Fed poised to cut rates even as core inflation remains stubborn and hiring cools. He explains how tariffs, slower immigration-driven labor growth, and strong corporate profits are shaping a slow-growth, mildly inflationary backdrop.

Listeners will learn why markets are upbeat despite valuation risks, what indicators to watch ...

Bob Doll reviews the week: mixed markets with the S&P up, weak August payrolls that boosted Treasury prices and Fed-cut expectations, and uneven sector performance driven by MAG-7 strength and sticky inflation.

He concludes that earnings and supportive policy fuel a positive outlook, but stretched valuations, rising long-term yields, and persistent inflation make returns likely bumpy and the risk-reward less favorable.

For a co...

Bob Doll reviews last week’s market moves, sector performance, and corporate earnings while highlighting growing tensions between the White House and the Federal Reserve. Investors remain focused on the prospect of lower short-term rates even as inflation and policy uncertainty rise.

The episode argues that valuations are not a reliable market-timing tool and explains why ongoing Fed dovishness will sustain a liquidity-driven, risk...

This episode reviews last week’s market action where the S&P 500 finished slightly higher and sector leadership was led by energy, real estate, and financials while tech lagged.

Bob Doll explains why stretched MegaCap valuations, ample liquidity, and rising hopes for Fed rate cuts have driven a risk-on rally — but warns the backdrop is fragile: markets must ‘‘thread the needle’’ between weakening corporate earnings and a potent...

Bob Doll reviews last week’s market action: stocks rose near record highs amid strong earnings and expectations of imminent Fed rate cuts, while small caps and select sectors led gains.

He cautions that inflation metrics remain above the Fed’s 2% target and that tariffs, fiscal stimulus, and concentrated market leadership create upside inflation and policy risks that could reverse current complacency.

For a copy of this week's Doll...

In this episode of Doll's Deliberations, Bob Doll discusses the positive performance of the S&P 500 amidst growing expectations of Federal Reserve interest rate cuts and clarity around tariffs. Despite concerns about stagflation, certain sectors like technology and communication services have shown impressive growth.

The episode delves into the investment landscape, questioning whether the bull market is in its 'extra innings' ...

In this episode of Doll’s Deliberations, host Bob Doll explores the recent market downturn following a week of record highs. Learn about the factors driving the decline, including disappointing July non-farm payrolls and concerns over growth and inflation. Despite strong earnings from many companies, the market faces uncertainties, particularly from new U.S. tariff announcements and ongoing economic slowdown.

Doll discusses the imp...

The latest episode of Doll's Deliberations dives into the recent market trends, highlighting a positive turn as stocks hit record highs. Bob Doll discusses the impact of second-quarter earnings exceeding expectations and how easing tariff tensions give investors newfound confidence. With healthcare, materials, and industrials leading the charge, the U.S. economy appears resilient despite high tariff levels.

While the risk of a rece...

In this episode of Doll's Deliberations, host Bob Doll provides expert insights into the current state of the markets. The S&P 500 and NASDAQ hit record highs, while President Trump's disputes with the Fed create market ripples. Technology and utilities emerge as top-performing sectors, whereas energy and health care fall behind.

Bob discusses the potential market implications of a more dovish Fed and its effects on the U.S. Do...

Welcome to Doll's Deliberations, where Bob Doll explores the intriguing dynamics shaping the global financial landscape this July. Despite a modest drop in stocks last week, both the S&P 500 and NASDAQ hit new all-time highs, marking the beginning of another promising quarter. With the CPI and second-quarter earnings reports on the horizon, investors brace for potential fluctuations amidst ongoing tariff tensions.

This episode ...

Register now to secure your spot for the quarterly Webinar on Wednesday, July 9th as Bob Doll, CFA provides updates on how his 10 predictions for 2025 are faring today. This live webinar will provide you with valuable insights into current and anticipated market conditions and will conclude with a live Q&A session with both Bob and Victoria Fernandez, CFA.    If you would like to register, click on the following link: 

Bob Doll...

In this episode of Doll's Deliberations, Bob Doll discusses the remarkable recovery in stock markets, reaching new all-time highs following a significant decline earlier in the year. With the Fourth of July approaching, Bob emphasizes the importance of appreciating the freedoms we enjoy.

The episode highlights concern over potential economic weakening and high earnings estimates as inflation pressures loom due to tariffs. Bob share...

In this episode of Doll's Deliberations, host Bob Doll provides a comprehensive analysis of the current financial landscape marking June 23, 2025. From the mixed performance of major stock sectors to the crucial impacts of escalating tensions in the Middle East, this episode delves deeply into potential economic shifts.

The discussion takes a closer look at how recent geopolitical events, including President Trump's impending decis...

The latest episode of Doll's Deliberations dives into a week of market upheaval triggered by Israel's military strikes on Iran and the conclusion of U.S.-China tariff negotiations. Bob Doll dissects the fallout, highlighting the S&P's downturn and a volatile economic landscape marked by fluctuating inflation and trade uncertainties.

The discussion sheds light on sector performances, with energy emerging as a frontrunner and fin...

In this week's episode of Doll's Deliberations, Bob Doll offers his analysis on the current state of global markets, highlighted by a 1.5% rise in the S&P 500 due to robust performance in communication services and technology sectors. However, consumer staples and utilities saw a decline. Despite tariff-driven uncertainties and elevated U.S. policy risks, equities have rebounded from previous losses, indicating a shift from ove...

This week's Doll's Deliberations provides a comprehensive analysis of the financial markets, highlighting a nearly 2% rise in the S&P 500 and strong performances in the real estate and technology sectors. Investors face a mixed backdrop with persistent inflation, muddled trade outlook, and a slow but steady global economic recovery. The commentary covers the implications of ongoing tariff issues, shifts in government bond yield...