The Dow's trading below 8,000, Punxsutawney Phil predicts six more weeks of winter, and investors are bracing for more bad news. How about some good news?
Bob Doll, BlackRock's vice chairman and CIO for equities, looks on the bright side (bold is mine):
While it would be easy to get trapped into a bearish mindset given such a difficult background, we do believe there are some reasons for hope: Lower energy prices are providing a boost to spending; lower home prices and lower mortgage rates have made housing more affordable; money growth has picked up; and credit spreads continue to narrow. Additionally, outside of the United States, many countries have only begun to enact fiscal stimulus measures to help the troubled global economy.