Nuveen's Bob Doll, Chief Equity Strategist, comments on his waiting for the self-reinforcing economic expansion to take hold.
"Last week U.S. equities advanced as the S&P 500 increased by 1.3%.1 We have been amazed by the market’s ability to continue to rally in an environment in which sales growth has been anemic and earnings gains have been largely based on companies’ abilities to manage margins and utilize financial engineering."