January 12, 2018 / 12:05 PM / 2 years ago

BlackRock's Fink: Market run-up a 'recalibration' of U.S. earnings

FILE PHOTO: Larry Fink, Chief Executive Officer of BlackRock, takes part in the Yahoo Finance All Markets Summit in New York, U.S., February 8, 2017. REUTERS/Lucas Jackson/File Photo

NEW YORK (Reuters) - BlackRock CEO Larry Fink, on CNBC television, said U.S. tax cuts have added fuel to the stock market rally and that there is more room to run.

“A lot of this market run-up is a recalibration of how corporate earnings are going to be,” Fink said.

“And you’re going to adjust now the stock price to the new EPS (earnings per share) level. After that one-time event now, we have to see does that tax cut stimulate more growth, more demand and that we will see that in the revenue line.”

Reporting by Jennifer Ablan; editing by Jason Neely

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