Investors await BlackRock earnings to gauge industry

Setting standards: The BlackRock building in New York. The industry bellwether is expected to reflect the sharp stock market rebound. — Reuters

NEW YORK: Investors will watch next week’s earnings from BlackRock, the world’s largest asset manager, for a snapshot of how the industry performed during the second quarter’s dramatic rebound in global financial markets.

Most expect numbers from industry bellwether BlackRock and other asset managers to reflect the sharp stock market rebound. The S&P 500 rose 20% in the second quarter after falling as much in the first three months of 2020 as the coronavirus pandemic slammed the economy.