BLK News & Events

BlackRock announced plans to launch the iShares Nasdaq 100 ETF, designed to provide investors with cost-efficient access to the companies driving innovation and long-term economic growth across sectors including technology, healthcare, consumer discretionary, and communication services. The ETF has a gross expense ratio of 0.12%, with a waiver reducing the expense ratio to 0.10% through July 31, 2027. The ETF's initial NAV will be $24 per share and is expected to begin trading on Nasdaq as early as Thursday, July 9.

BlackRock TCP Capital (TCPC) CEO Phil Tseng is in the process of leaving the company after losses on loans and news of a regulatory probe into the firm's valuation practices, Olivia Fishlow and Silla Brush of Bloomberg reported yesterday, citing people familiar with the matter. The fund has long been a challenge for BlackRock (BLK), Bloomberg said. BlackRock TCP Capital's credit has significantly deteriorated, with its net assert value down 50% over the last five years, Keefe Brunette analyst Paul Johnson pointed out following the report. The news is negative, but not unexpected given the severe decline in credit, the analyst said. BlackRock TCP Capital closed Thursday down 3% to $3.36. Keefe has an Underperform rating on the shares with a $3.50 price target.

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.USMCA:The Trump administration said it does not plan to renew the U.S.-Mexico-Canada Agreement on trade, NBC News' Steve Kopack. Instead of renewing the pact, the U.S. intends to begin a decade of talks on amendments to it, the author says, citing a senior Trump administration official.TRUMP ACCOUNTS:The U.S. Treasury announced that two BlackRockiShares exchange traded funds will be offered among the investment options available under Trump Accounts, a federal initiative designed to enable a generation of American children to begin building wealth from birth. "BlackRock is proud to support Trump Accounts. For generations, U.S. capital markets have been a powerful engine of growth and wealth creation," said Larry Fink, Chairman and Chief Executive Officer of BlackRock. "By giving younger Americans the opportunity to start investing earlier, Trump Accounts can help millions build long-term financial security, develop a greater stake in the future of the country, and share more directly in the growth and prosperity of the United States." BlackRock's iShares Core S&P 500 ETF and iShares Core S&P Total U.S. Stock Market ETF offer diversified exposure to many of America's companies and the long-term growth potential of the U.S. economy, the Treasury said.Meanwhile, the Trump administration has discussed with SpaceXthe possibility of donating stock to children's "Trump Accounts," a move that could deepen the renewed relationship between Elon Musk and Donald Trump, although no contribution or structure has been finalized, Semafor's Eleanor Mueller and Liz Hoffman. It's unclear whether Musk has agreed to contribute any SpaceX stock to Trump Accounts.CHINESE CHIPS:Appleis in negotiations to purchase chips from two Chinese semiconductor makers, ChangXin Memory Technologies and Yangtze Memory Technologies, that are on a Pentagon blacklist in an attempt to reduce the impact of a global memory shortage, Mark Gurman and Maggie Eastland of Bloomberg report, citing people familiar with the matter. Apple CEO Tim Cook reached out to Trump administration officials, including Treasury Secretary Scott Bessent, to help soften the political fallout from any possible deal with the Chinese chipmakers, sources told Bloomberg. Apple doesn't need formal U.S. approval to buy chips from the two companies, but would risk blowback from national security officials should it do so, Bloomberg adds.

The U.S. Treasury announced that two BlackRock iShares exchange traded funds will be offered among the investment options available under Trump Accounts, a federal initiative designed to enable a generation of American children to begin building wealth from birth. "BlackRock is proud to support Trump Accounts. For generations, U.S. capital markets have been a powerful engine of growth and wealth creation," said Larry Fink, Chairman and Chief Executive Officer of BlackRock. "By giving younger Americans the opportunity to start investing earlier, Trump Accounts can help millions build long-term financial security, develop a greater stake in the future of the country, and share more directly in the growth and prosperity of the United States." BlackRock's iShares Core S&P 500 ETF and iShares Core S&P Total U.S. Stock Market ETF offer diversified exposure to many of America's companies and the long-term growth potential of the U.S. economy, the Treasury said.