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BlackRock ‘cautious’ on US stocks

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BlackRock 'cautious' on US equities

Asset manager BlackRock is not excited about all-time highs in U.S. stocks.

"This is a tough and transitional moment for equities," said Kate Moore, chief equity strategist — Americas at BlackRock.

"We are more cautious on equities in the second half of this year," she said.

The hit a fresh all-time intraday high Tuesday after closing at a record Monday. The industrials sector on Tuesday hit a new intraday record high.