BlackRock CEO Larry Fink on Q4 earnings beat Description video: BlackRock, the world’s largest asset manager, on Thursday reported a better-than-expected quarterly profit, as increased activity in financial markets resulted in higher fees and pushed its assets under management to […]
BlackRock CEO Larry Fink on Q4 earnings beat
BlackRock, the world’s largest asset manager, on Thursday reported a better-than-expected quarterly profit, as increased activity in financial markets resulted in higher fees and pushed its assets under management to record highs. BlackRock CEO Larry Fink joined \”Squawk Box\” on Thursday to discuss. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi \n\nBlackRock, the world’s largest asset manager, on Thursday reported a better-than-expected quarterly profit, as increased activity in financial markets resulted in higher fees and pushed its assets under management to record highs.\n\nThe company’s adjusted net income of $10.18 per share in the fourth quarter ended Dec. 31 topped Wall Street estimates of $9.14, according to Refinitiv IBES data.\n\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n\nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n\nThe News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast \n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n\nhttps://www.cnbc.com/select/best-credit-cards/ \n\n#CNBC\n#CNBCTV
BlackRock CEO expects further stock gains in 2021
Larry Fink of BlackRock said he believes the stock market has additional growth opportunities. However, the chairman and chief executive officer of the largest asset management company warned that growth may not be as strong as it was in the second half of 2020..
«I think we will continue to see the market strong in 2021, perhaps not as strong as we saw in the fourth or third quarter of last year.», – said Larry Fink on CNBC «Squawk Box».
S&The P 500 is up more than 20% from July 1 to December 31, 2020 as part of the massive recovery in stocks following the coronavirus-caused collapse in February and last March.
According to Fink, one of the factors that should be a tailwind for the market is «record» the amount of money that investors have in stock.
«We constantly see how investors around the world are investing insufficiently, not excessively in long-term assets, and the best source of long-term assets is stocks and many asset categories in the private sector.», – he said.
According to Fink, the presence of low interest rates and the likelihood that adaptive monetary policy will continue for some time will continue to push investors to enter the market..
Fink said he expects the second half of 2021 to be stronger for the market than the first half due to widespread deployment of Covid-19 vaccines, which will allow more economic activity to resume. it «will be a powerful component for progressive growth», – he added.
BlackRock shares surged more than 1% in premarket Thursday after the New York-based company posted better-than-expected fourth-quarter earnings and revenue.
BlackRock assets under management rose to a record $ 8.68 trillion from $ 7.43 trillion in the same period last year.