BlackRock's Rick Rieder Dismisses Recession Fears, Says Stocks Could Surge Up To 12% In 2024
Portfolio Pulse from Benzinga Neuro
Rick Rieder, CIO of global fixed income at BlackRock Inc (NYSE:BLK), predicts stocks could surge up to 12% in 2024, dismissing recession fears. He sees potential in the S&P 500 surpassing 5,300 points, driven by strong Big Tech performance and sectors like healthcare and defense. Rieder's view contrasts with other analysts predicting a recession due to consumer debt burdens.
January 12, 2024 | 1:45 am
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BlackRock's Rick Rieder predicts a potential stock surge of up to 12% in 2024, with no recession in sight, which could reflect positively on BlackRock's performance and investor sentiment.
As the CIO of BlackRock's global fixed income, Rieder's positive market outlook could increase investor confidence in BlackRock's own performance and strategies, potentially leading to a short-term positive impact on BLK's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80