Jim Cramer is considering investing in BlackRock, the world’s largest asset manager, and has added it to the stocks-to-watch list. BlackRock’s shares recently hit a record high after impressive third-quarter earnings. They now manage an unprecedented $11.5 trillion in assets, boosted by market gains and a recent $12.5 billion acquisition.
Other financial giants like Wells Fargo also reported strong results, with Morgan Stanley set to announce next week. The financial sector is adjusting to ongoing high interest rates, raising questions about future Federal Reserve actions.
BlackRock’s strong performance supports the decision to consider its stock. It has risen over 12% in the past month, outperforming the S&P 500’s 4% increase. Cramer acknowledges the stock’s growth but believes it has more potential. He plans investments carefully, having focused recently on other stocks in his portfolio.
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