BlackRock — the huge New York-based investment firm — today came in with some quite good financial results for the first quarter of 2019. At least, the numbers are good when you consider what was going on as the year started. With markets tanking at that time and a prolonged government shutdown, Wall Street forecasters were expecting a big decline in revenues and profits compared to the same quarter last year. Instead, BlackRock’s profits fell just slightly, as did its revenue. Meanwhile, its total assets under management actually rose by 3%, to $6.5 trillion. What can the firm’s first quarter tell us about the overall U.S. economy?
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.