44 Mins Ago
‘Equities will do their job’ this year, says BlackRock’s Rick Rieder
Investors should still expect to get solid returns from the equity market this year, according to BlackRock’s chief investment officer of global fixed income Rick Rieder.
“I think equities will do their job. I think equities will get you know 10%, 12%, maybe 15% return this year. That’s a pretty good portfolio, and I don’t think you need long bonds to hedge,” Rieder, who oversees $2.8 trillion in fixed income assets for the firm, told CNBC on Thursday afternoon. “I think today you can build a portfolio that’s reasonably stable, and work your way through.”
Sticky service-level inflation will begin to balance out over the next couple of months, Rieder added. He expects inflation is moderating and will allow for a “normal” economy with a roughly 4% nominal GDP growth. Consumer spending should also continue holding up, he said.
— Pia Singh
An Hour Ago
These are the stocks posting the biggest moves in extended trading
In this photo illustration, the Coinbase logo is seen displayed on a mobile phone screen.
Idrees Abbas | SOPA Images | Lightrocket | Getty Images
Check out the companies making headlines in after-hours trading.
- Coinbase – Shares of the cryptocurrency exchange gained 13% in extended trading after the company posted fourth-quarter earnings of $1.04 per share on revenue of $954 million. Analysts had expected a 1 cent per share loss on revenue of $822 million, according to LSEG.
- Applied Materials – Shares of the semiconductor equipment maker popped 11% in after-hours trading as earnings topped estimates and the company gave a rosy outlook for the fiscal second quarter. First-quarter earnings per share of $2.13, excluding items, bested estimates of $1.90 per share, from LSEG. Revenue for the period came out at $6.71 billion, topping the $6.48 billion estimate.
- Toast – The maker of restaurant point of sale systems saw shares rise 3% after hours following its fourth-quarter results. The company posted a loss of 7 cents per share, which was narrower than the 11 cent per share loss analysts expected, according to LSEG. Revenue of $1.04 billion came in about in line with expectations of $1.02 billion.
For the full list, read here.
— Pia Singh
An Hour Ago
