US GDP to shrink 5% in 2008 - BlackRock

Doll says last month's US unemployment report has confirmed the seriousness of the current downturn, with more jobs lost in a single month since 1974. However, Doll believes last week's late share rally has displayed encouraging signs the US markets are able overlook much of the negative data. He is sticking with the view stock markets are currently in a "bottoming process", following a significant low on 10 October. "Stocks sank below their October 10 lows in late November, but importantly, volatility measures were lower then, which adds support to our view that prices are finding a fl...