‘I believe we still have more to go on the upside even in front of probably rising infection rates with COVID-19.’
“I believe we still have more to go on the upside even in front of probably rising infection rates with Covid-19,” Fink continued, adding that he believes another fiscal stimulus package will ultimately give the market a leg up. “We have a strong conviction that the average investor still is under-invested, and they’re going to have to be putting more and more money to work over the coming months and maybe even years.”
He also said that low interest rates will continue to give equities a boost as the U.S. economy works its way back from pandemic lows.
Watch the interview:
Before Fink’s appearance on CNBC, the world’s largest asset manager reported a third-quarter profit that was well above expectations and revenue that rose above forecasts.
“Each of our strategic investment areas, including iShares ETFs, alternatives and technology, continue to grow, while strong investment performance has driven positive active flows over the last year,” Fink said.
The stock, which opened higher in Tuesday’s session, has rallied 22.3% year to date through Monday, while the S&P 500 has gained 9.4%.
Meanwhile, the Dow Jones Industrial Average
was lower, at last check, as was the S&P
The Nasdaq Composite
however, traded in the green early Tuesday.