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BlackRock and Goldman CEOs stay bullish on markets driven by tech
BlackRock CEO Larry Fink said the company’s margins rose 260 basis points over the prior 12 months, with improved profitability tied largely to increased technology use.
BlackRock CEO Larry Fink said he is very bullish on financial markets over the next 12 months, arguing that a technology revolution sweeping corporate America could lift profit margins across more industries, according to Yahoo Finance.
Fink also cited BlackRock’s own performance, saying its margins increased by 260 basis points over the previous 12 months, with much of the improvement coming from the firm’s growing use of technology.
Goldman Sachs CEO David Solomon delivered a similar long term view, telling Fox News that the U.S. economy is in pretty good shape even as geopolitical tensions remain difficult to ignore, with the Middle East conflict and the U.S. relationship with China named as factors.
Solomon said his outlook is supported by what he described as a technology supercycle and by broader U.S. fundamentals, including capital formation, entrepreneurship, and ongoing tech innovation that he expects to drive productivity gains.