BlackRock is holding cash with two hands!
70% of the economy is based on consumer spending. Our consumers are still holding their cash. They're still in a good spot. But we have to continue to watch the haves and the have nots.
There's been a labor hoarding going on. Cathie Wood from Ark Invest says that a lot of people have been hiring kind of as fast as they can because the employers don't want to pay for higher wages that have been going up the last year.
ICE (Intercontinental Exchange Inc) entered into an agreement to purchase Black Knight for $13.1 billion. The regulator still has to bless the transaction but there's a lot of M&A.
So I'll be interested to see how all those pieces accompany each other out there.