U.S. Stocks Ready to ‘Rock’

AGA7d

Bears need to listen to this guy Fink.
--AGA7d--

BlackRock’s Fink Says U.S. Stocks Ready to ‘Rock’ (Update1)

By Anthony Effinger and Sree Vidya Bhaktavatsalam

June 2 (Bloomberg) -- BlackRock Inc.’s Laurence D. Fink, who leads the world’s biggest asset-management firm, said the stock market is poised to rally because U.S. companies have built cash reserves and manufacturers are returning to health.

“We’re ready to really rock and roll as a country,” Fink said today in a meeting at the Oregon Investment Council, which manages retirement accounts for public employees and invests in BlackRock’s funds. The meeting was held in Tigard, Oregon.

The U.S. benchmark Standard & Poor’s 500 Index has gained 62 percent since reaching a 12-year low on March 9, 2009, as companies recovered from losses during the credit crunch. This year, the index has declined 1.5 percent on concern that the European debt crisis will curb growth around the world.

“We’re very bearish on Europe,” said Fink, chief executive officer of New York-based BlackRock, which manages $3.36 trillion in investments. “We worry that it will bleed into other areas,” Fink said to the group of two dozen employees and board members at the council.

Second-quarter profits at U.S. companies will be stronger than analysts expect, he said. Excluding some items, companies in the S&P 500 earned a combined $19.87 a share in the first quarter, up 53 percent from the year-earlier period, according to data compiled by Bloomberg. Analysts estimate S&P 500 profits will be $81.31 a share this year and $95.59 in 2011, topping the record $87.72 in 2006.

Fink said he talked to Alan Mulally, Ford Motor Co.’s CEO, last week about how the automaker’s unions had agreed in 2007 to cut wages for new hires. Such reductions, combined with cheaper housing after the real estate slump, make the U.S. attractive to manufacturers again, Fink said.

Much of Fink’s optimism about the U.S. and pessimism about Europe is based on demographic trends, he said. Asked what Europe could do to solve its problems, Fink said: “Breed.”

soulvirus

不会rock, 只会上下母鸡

soulvirus

直到欧元问题解决， 可能是欧元玩完， 可能是欧元回稳。 哪一种结果都行。

AGA7d

不会rock, 只会上下母鸡
soulvirus 发表于 2010-6-2 22:35

定有新高

soulvirus

那是长远目标， 近期难

定有新高
AGA7d 发表于 2010-6-2 22:37

AGA7d

那是长远目标， 近期难
soulvirus 发表于 2010-6-2 22:40

今年

flyingdust

支持牛牛.