According to BlackRock’s Rick Rieder, the stock market is benefiting from strong technical factors, helping it maintain its recent record highs.
In a recent Bloomberg Television interview, Rick Rieder, the chief investment officer for global fixed income at a major financial firm, explained his view on what’s causing the latest gains in the market.
The stock market is showing very strong technical indicators, and company earnings reports are exceptionally good. The main factors driving the US economy are performing well, especially in the tech sector. We’re seeing incredible earnings growth – for example, some semiconductor companies reported a 97% increase in earnings compared to last year. These numbers are remarkably strong.
When you examine spending by wealthier customers, retail sales are actually quite strong.
Rieder points out that the company made a profit even though investors were hesitant to buy stocks at the time.
Our company plans to repurchase $1 trillion worth of its own stock this year, which is so much that there might not be enough shares available to buy.
As of today, the S&P 500 is trading at 7,099.35. It reached a record high of 7,147.52 on Friday. While down slightly today (0.37%), the index has gained 2.74% over the last five days and 9.11% over the past month.
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2026-04-21 12:42