Diamonds and Dogs
Blackrock (BLK) melting up. The world's largest asset manager, Blackrock is up 3% to a six month high following better than expected earnings. The CEO, Larry Fink said there is a better chance of a "melt up" in stocks than a meltdown, because there is a record amount of cash on the sidelines and investors are underinvested in the stock market at a time when central banks are "more dovish than ever."
A bad reversal for UnitedHealth Group (UNH). The nation's largest health insurer is down 5% after opening up 3% following better than expected earnings. Besides beating earnings estimates, United also raised guidance, but that didn't help the stock from falling to a new 52 week low. The 2020 presidential contender Bernie Sanders called out UnitedHealth recently saying to CEO Steve Nelson that when he is in the White House UnitedHealth's greed will end.