Chief Equity Strategist Bob Doll examines the mixed signals coming from the market, and tries to make sense of it by looking at the big picture.
"Last week the S&P 500 declined 0.97%,1 while many global equity averages fell for the fourth week in a row (see performance table on page 2). Early in the week, discussion of tapering by the Federal Reserve was a big headwind, as discomfort over a slower pace of policy accommodation rippled through global markets. Thursday’s rally was driven by thoughts that tapering fears may be overdone. Markets were also helped by better employment and consumption data."