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?
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?