The U.S. economy is speeding up again after a slowdown in recent months and cash could soon start rushing into stocks as most investors are underinvested in the markets globally, BlackRock Inc’s Chief Executive Larry Fink said on Tuesday.
“We still saw, as an industry and at BlackRock, outflows in equities and this is one of the reasons why I believe the market is getting set up for huge inflows into equities,” he said.U.S. stocks stumbled late last year due to fears about a global slowdown and about the potential fallout from U.S.-China trade tensions. A partial U.S. government shutdown and mixed economic data added to investor concerns earlier this year.
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