'OLDIE BUT A GOODIE': Bob Doll reveals investing opportunities in the market

Economic Outlook - The Federal Reserve's target inflation rate may be shifting from 2% to a range of 2.5% to 3%, which could impact market expectations and valuations [3][4][9] - Current market PE ratios are high, with a potential correction of 10% noted, and a PE of 24 being considered unusual for large firms [4][5] China and Global Competition - There is a structural downshift in China's economy, with recent data indicating significant challenges, despite narratives of China's dominance [6][8] - The economic relationship between the U.S. and China is characterized as an economic cold war, with ongoing fluctuations in sentiment and performance expected [7] Company Insights - Qualcomm is highlighted as an attractive investment due to its diversification efforts and current pricing, despite losing some ground with Apple [12] - Citigroup is recommended as a lagging financial stock that is priced attractively, with interesting overseas opportunities [13] - Gilead Sciences is noted for its advancements in AIDS treatment and related products, receiving recent approval that bolsters its positive outlook [15]