Summary by Futu AI
BlackRock reported strong financial results for Q2 2024, with revenue increasing 8% year-over-year to $4.8 billion and operating income rising 11% to $1.8 billion. The operating margin expanded to 37.5% from 36.2% in Q2 2023. Net income grew 9% to $1.5 billion, with diluted EPS reaching $9.99, up 10% from the prior year.Assets under management (AUM) reached a record $10.6 trillion, driven by $51.4 billion in long-term net inflows and positive market performance. ETF inflows were particularly strong at $83.1 billion, led by fixed income and core equity products. Technology services revenue grew 10% to $395 million, reflecting sustained demand for Aladdin offerings.The company maintained a strong capital position with $10.2 billion in cash and cash equivalents. In March 2024, BlackRock issued $3 billion in senior notes to help fund its acquisition of Global Infrastructure Partners. The company returned capital to shareholders through $875 million in share repurchases and quarterly dividends of $5.10 per share during the quarter.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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