Rob Thummel of Tortoise Capital and Ryan Payne of Payne Capital Management join Mornings with Maria to discuss record market highs, the AI infrastructure boom, and how Big Tech revenue and US-China trade talks can boost investor sentiment.
CEO of BlackRock Larry Fink said the US remains the top destination for investors to invest their assets and will remain so for at least the next year and a half, amid economic trends.
Fink was part of a panel moderated by Bloomberg Television at the Future Investment Initiative in Saudi Arabia and noted that there was a “modest transformation and movement out of the dollar” earlier this year as investors shifted assets to Europe and other regions.
However, he noted that the move came from a “huge overweight in dollar-based assets” and that the trend appears to be reversing as investors move back toward the dollar. American assets.
“I would say we’ve seen that money coming back to the US over the last month or two, so I don’t see that much movement. There’s still a deep belief in the opportunity in the US,” Fink said, noting the increase in investment related to AI and other capital projects.
BLACKROCK’S RAISE ON THE FASTEST GROWING ETFS
BlackRock CEO Larry Fink said the US will remain a destination for investors to “consider” over the next 18 months. (Kirk Sides/Houston Chronicle via Getty Images)
“More than 40% of economic growth in the second quarter consisted of investments in technology, and you don’t see that in other places in the world,” said the BlackRock chief said.
“And it’s that investment, whether it’s data centers or finding more power, gas, building gas turbines – you see all of that happening more in the US than most places in the world today.”
“You don’t see that very often in Europe, and this is one of the main reasons for the huge gap between US GDP and European GDP,” he added.
BLACKROCK CEO LARRY FINK’S ANNUAL LETTER TO INVESTORS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 1,098.05 | +0.05 |
+0.00% |
Fink said that while money will continue to move to different countries and regions around the world, he thinks most global investors will continue to focus on being overweight their U.S. investments over the next year and a half.
“Money will be moving all the time, but I would say most global investors have a very large overweight in the US and I think that will be the best place to maintain your overweight for at least the next 18 months,” Fink added.
The US markets plummeted earlier this year, amid concerns about the impact of the Trump administration’s tariffs on the economy, as well as long-standing budget problems.
TRUMP AND
US markets have rebounded on strong AI investment after falling in the wake of tariff announcements earlier this year. (Michael Nagle/Bloomberg via Getty Images)
President Donald Trump’s The announcement of his “mutual” tariff policy in early April led to a significant sell-off in the stock market – although the government later delayed and scaled back some of that tariff policy, easing investor concerns.
Long-standing concerns about the longer-term fiscal health of the US have also continued to grow as the budget deficit has surpassed $37 trillion and $38 trillion threshold values during 2025.
Concerns about lawmakers’ inability to reduce persistent and growing budget deficits prompted Moody’s to become the third major rating agency to a downgrade of the US credit rating of its highest level.
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Despite these headwinds, the economy has shown resilience and the surge in AI investment has pushed markets to record highs in recent months, with the S&P 500 index up more than 16% so far this year.
