At our internal 2026 Forum last week, the AI buildout ran through the debate among our portfolio managers along with other key topics such as stablecoins. Wei Li, Global Chief Investment Strategist at BlackRock, shares some key takeaways.

The U.S. and China trade truce and mega cap tech companies upping planned AI buildout spending last week reinforce how mega forces are playing out in real time. Devan Nathwani, Portfolio Strategist with the BlackRock Investment Institute, explains why these mega forces are key for near-term returns, not just the long term.

A cooling labor market should tee up more Fed rate cuts and support risk assets. Michel Dilmanian, Portfolio Strategist with the BlackRock Investment Institute, explains the updates we've made to the macro scenarios that inform our risk stance.

The U.S. third quarter earnings season is off to a strong start. We see three reasons why broad momentum can continue – yet prefer select sectors. Natalie Gill, Portfolio Strategist with the BlackRock Investment Institute, explains where.

We see the U.S. dollar's slide tied to expected Fed rate cuts and fiscal cuts - not evidence its reserve status is under threat. Ben Powell, Chief Investment Strategist for the Middle East and Asia-Pacific, explains why.

A cooling labor market supports Fed rate cuts and is core to our risk-on stance. U.S. job updates are key, explains BlackRock Investment Institute Senior Economist Nicholas Fawcett, and are now delayed due to the government shutdown.

Japanese stocks are still among our favorites. BlackRock Investment Institute Economist Serena Jiang unpacks how corporate reforms and solid growth are driving equity gains.

U.S. rate cuts support our risk-on stance, but we see ample – if select – opportunity in Europe. Roelof Salomons, Chief Investment Strategist for the Netherlands at the BlackRock Investment Institute, shares where.

We stay risk-on. A notable slowing of activity without recession should support Fed rate cuts, stocks and the AI theme, explains Glenn Purves, Global Head of Macro at the BlackRock Investment Institute.

Emerging markets have had a stellar year so far. Axel Christensen, BlackRock Chief Investment Strategist for Latin America, shares the three key drivers we see powering returns and unpacks why selectivity across countries and sectors is key.

As summer ends, we identify three lessons from an eventful 2025 to take into the rest of the year. Michel Dilmanian, Portfolio Strategist at the BlackRock Investment Institute, shares what they are and what they mean for investing.

The surging AI investment in recent tech earnings reports shows that mega forces – big structural shifts like AI – are key drivers of returns. Yet no one knows the long-term outcomes of the economic transformation these mega forces are powering. Devan Nathwani, Portfolio Strategist at the BlackRock Investment Institute, breaks down why it’s important to track multiple scenarios when building long-term portfolios today.

U.S. corporate strength could cushion the blow from tariffs – yet questions remain about who will pay for tariffs and what sectors will feel them most. Nicholas Fawcett, Senior Portfolio Strategist at the BlackRock Investment Institute, unpacks why corporate earnings have been resilient despite tariffs – and why it’s important to get granular as tariff impacts become clearer.

Recent U.S. law cements the role of stablecoins as a means of digital payment in the future of finance. Paul Henderson, Senior Portfolio Strategist at the BlackRock Investment Institute, shares what stablecoins are, how they’re being regulated and what that could mean for their growth.

Higher-for-longer interest rates offer solid income sources. Michel Dilmanian, Portfolio Strategist at the BlackRock Investment Institute, shares why we favor short- and medium-term government bonds, select credit and more. General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast. In the U.S. and Canada, this material is intended for public distribution. In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock. In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded. For Investors in Switzerland: This document is marketing material. In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288. In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL’s Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdiction In Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx ©2025 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners. BIIM0725U/M-467855

U.S. tariffs may drive more dispersion in market and security returns, creating yet more opportunity to earn alpha, or above-benchmark returns. Vivek Paul, Global Head of Portfolio Research at the BlackRock Investment Institute, shares two ways of capturing this additional alpha on offer.

Artificial intelligence and other mega forces are transforming the world – and disrupting traditional long-term macro anchors like stable inflation and predictable growth. To navigate this, the BlackRock Investment Institute outlines three key themes in our 2025 Midyear Outlook. Wei Li, Global Chief Investment Strategist at BlackRock, shares more.

As the end of the 90-day tariff pause looms, we think immutable economic laws will limit extreme policy changes. Nicholas Fawcett, Senior Economist at the BlackRock Investment Institute, discusses how the U.S. administration is shifting to more market-friendly policies, including tax cuts and regulatory reforms.

The geopolitical fragmentation mega force is evolving, with a big focus now on rising defense spending. Catherine Kress, Head of Geopolitical Research & Strategy at BlackRock, highlights how we're refining our investment preferences across regions and sectors in response.

Recent swings in U.S. inflation highlight the volatile economic backdrop, even before the full tariff impact. Nicholas Fawcett, Senior Economist at the BlackRock Investment Institute explains why we tap into mega forces that keep driving returns.