By Saqib Iqbal Ahmed
NEW YORK (Reuters) – 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.
Since the performance of asset managers tends to be tied to how markets fare, investors see a range of risks ahead, including further acceleration of U.S. coronavirus cases and potential market volatility around the Nov. 3 presidential election.
Still, “just on a market level, the asset managers are inmuch better shape coming out of the second quarter than theywere coming out of the first quarter,” said