BlackRock: The overall US economy will slow down, not enter a recession
Global asset management giant BlackRock has stated that it expects the overall US economy to slow down rather than enter a recession, especially after observing that US companies (particularly in the technology sector) have reported stronger-than-expected financial results on Wall Street. BlackRock stated: "Stronger-than-expected financial results from US companies, especially in the technology sector, reaffirm our optimistic view of the US economy. So far, the earnings growth rates for tech stocks and non-tech stocks in the second quarter are 20% and 5% respectively, higher than the expected 18% and 2% at the beginning of the earnings season." BlackRock also emphasized that the latest initial jobless claims, ISM non-manufacturing data, and Federal Reserve bank lending surveys indicate that the US economy is slowing down rather than heading towards a recession. The firm stated: "In the context of light summer trading, we may still see minor fluctuations. We remain overweight on Japanese stocks and US stocks, and are optimistic about the artificial intelligence theme in the US."
According to the Zhitong Finance and Economics APP, global asset management giant BlackRock has stated that it expects the overall US economy to slow down rather than enter a recession, especially after observing that US companies (particularly in the technology sector) have reported stronger-than-expected financial results on Wall Street.
BlackRock stated: "Stronger-than-expected financial results from US companies, especially in the technology sector, have led us to reaffirm our optimistic view of the US economy. So far, the earnings growth rates for tech stocks and non-tech stocks in the second quarter are 20% and 5% respectively, higher than the expected 18% and 2% at the beginning of the earnings season."
BlackRock also emphasized that the latest initial jobless claims, ISM non-manufacturing data, and the Federal Reserve's bank lending survey indicate that the US economy is slowing down rather than heading towards a recession. The firm stated: "In the context of light summer trading, we may still see minor fluctuations. We continue to be overweight on Japanese stocks and US stocks, and remain optimistic about the artificial intelligence theme in the US."