BlackRock shares rallied more than 7% in early trading after the firm posted a record‑breaking quarter, marking the biggest one‑day gain in over a year.

The money manager became the first investment firm to manage $15 trillion in assets, a milestone highlighted by the addition of $192 billion in new client money across its public and private markets businesses during the period. This inflow, coupled with robust equity markets, lifted its assets under management by more than $1 trillion in the three months ending June.

On a call with analysts, chief executive Larry Fink expressed optimism about U.S. stocks, noting that the rally still has room to run. He cited strong market fundamentals, higher corporate margins, and earnings momentum driven by new technology as key catalysts.

BlackRock exceeded analysts’ estimates for revenue and net income, which rose 20% YoY to $1.9 billion. The results underscore the firm’s growing influence and continued confidence from investors.

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