Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a month-long truce.Marketsread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The Republican tax law cuts the federal U.S. corporate rate to 21 percent from 35 percent. The corporate tax rate in Mexico is 30 percent.
Companies that had domiciled in Mexico for tax reasons are going to make their new tax homes in the U.S., Fink said. "That's a tax arbitrage," taking advantage of the difference in rates.
"It's going to make the U.S. more competitive for companies to come back to the United States; for companies to put factories here," he said.
That's exactly what President Donald Trump wants. He's made bringing businesses back to the U.S. a top priority of his administration.
On Thursday, Fiat Chrysler became the latest company to increase its commitment to the U.S., with the automaker saying it will invest $1 billion to relocate a plant from Mexico to Michigan.
Fiat Chrysler, citing the tax overhaul, will also pay 60,000 of its U.S. employees, excluding senior leadership, bonuses of $2,000 each.
The competitive tax advantage over Mexico comes at a time when the U.S. is renegotiating NAFTA.
Trump has said he would pull out of the 1994 North American Free Trade Agreement with Mexico and Canada if the U.S. can't get better terms.
Fink said the Republican tax law, which includes an overhaul of the personal code, is largely going to help Americans, and should add about 1 percent annually to economic growth, at least in the first few years.
In Friday's wide-ranging CNBC interview, Fink also said most people saving for retirement, even those as old as 50, should have the bulk of their portfolios in stocks rather than bonds. BlackRock is still "quiet bullish" on equities at these levels, he added.
He appeared on the show shortly after BlackRock, the largest asset manager in the world, reported better-than-expected quarterly earnings and revenue. Total assets under management stand at nearly $6.3 trillion, slightly ahead of estimates.