Table of Contents

• BlackRock

• Tesla

Top Stories Today

Economy & Finance

BlackRock

BlackRock’s assets under management reached an all-time high for the third consecutive quarter, totaling $11.48 trillion, thanks to a strong U.S. stock rally and substantial investor inflows. This growth aligns with BlackRock’s ongoing expansion into private markets, highlighted by recent acquisitions such as Global Infrastructure Partners and Preqin, which add significant infrastructure and private market assets. CEO Larry Fink emphasized the company's strategic ambition to unify public and private investment offerings on a single platform, aiming to capture growing demand for private markets amid rising public debt. BlackRock saw record quarterly net inflows of $221.18 billion, with ETFs and fixed-income products attracting substantial client interest. As the Federal Reserve hints at easing interest rates, BlackRock anticipates further shifts towards fixed income investments in a high-rate environment. Net income also edged higher year-over-year, supported by favorable market conditions and the firm’s broadening asset management capabilities.

Technology

Tesla

At Tesla's “We, Robot” event, Elon Musk introduced the Cybercab, a two-seat autonomous vehicle without traditional controls, aiming for production by 2027 with a price below $30,000. Musk also showcased plans for a Robovan, designed to carry up to 20 passengers or cargo, emphasizing both vehicles’ inductive charging capabilities. He announced that unsupervised Full Self-Driving (FSD) will be available next year for Model 3 and Model Y in Texas and California. Musk has a history of ambitious autonomous driving promises, including missed targets, yet he reaffirmed Tesla's commitment to achieving full autonomy. The event concluded with Musk highlighting Tesla's humanoid robot, Optimus, which served drinks and danced on stage, underscoring Musk's futuristic vision.

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