--- title: BlackRock Evaluates Indifferent Investor Sentiment description: Blackrock considers investor indifference to positive earnings reports and the effect of increased tension between the US and North Korea on global stock prices image: http://www.letsassemble.com/hubfs/blog-files/BlackRock_Weekly_Update.png --- [![Assembly Wealth](https://www.letsassemble.com/hs-fs/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png?width=300&height=70&name=Assembly-Wealth-Logo-Orange-500px.png "Assembly Wealth")](https://www.letsassemble.com/) The Money Manager People TM [800-541-7774](tel:+18005417774) [![RESEARCH MONEY MANAGERS](https://no-cache.hubspot.com/cta/default/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5) [![Client Center](https://no-cache.hubspot.com/cta/default/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2) [Home](https://www.letsassemble.com/) WrapManager's Wealth Management Blog When life changes, we can help you thoughtfully respond. [< Back to read another post](https://www.letsassemble.com/wealth-management-blog) # BlackRock Evaluates Indifferent Investor Sentiment Posted by [ WrapManager's Investment Policy Committee](https://www.letsassemble.com/wealth-management-blog/author/wrapmanagers-investment-policy-committee) August 17, 2017 - [Tweet](https://twitter.com/share) [![BlackRock Weekly update](http://www.letsassemble.com/hs-fs/hubfs/blog-files/BlackRock_Weekly_Update.png?width=340&name=BlackRock_Weekly_Update.png "BlackRock Weekly update")](https://www.letsassemble.com/hubfs/MM_Commentary_PDFs/weekly-investment-commentary-en-us.pdf) ## *Investor sentiment shows more signs of fatigue than euphoria...* Equity markets have greeted positive earnings reports largely with indifference. Investor sentiment shows more signs of fatigue than euphoria, even as stock markets have repeatedly reached new highs this year. Yet we see solid fundamentals and returns in the second half, with the latter largely tracking earnings growth.   Read an excerpt of Richard Turnill's weekly commentary below, or [view the entire weekly investment commentary here](https://www.letsassemble.com/hubfs/MM_Commentary_PDFs/weekly-investment-commentary-en-us.pdf). Investors may be on to something: it will be more difficult for companies to achieve the same EPS growth in the second half, as the earnings recovery in the second half of 2016 is a higher hurdle. The energy sector’s strong contribution to earnings is waning, after its earnings rebound has delivered nearly a quarter of the EPS growth in the U.S. market and half of that in Europe in the second quarter. A stronger euro could slow the pace of earnings growth among European companies. The earnings revisions ratio – the ratio of earnings estimate upgrades to downgrades – in Europe has in fact fallen to a one-year low.    **Week in Review****:** - Tensions between the U.S. and North Korea flared up. Global stocks fell. Perceived safe havens such as the yen, the Swiss franc, gold and government bonds rallied. VIX futures trading volume hit a record high. - U.S. inflation showed signs of stabilization despite missing estimates, against the backdrop of a buoyant labor market. China’s consumer prices undershot expectations, but factory inflation held steady. - The National Federation of Independent Business (NFIB) said small business sentiment rose for the first time since January, and lack of quality workers is a common concern. The U.S. Job Openings and Labor Turnover Survey (JOLTS) reported a record level of job openings in June. [Review the complete commentary here](https://www.letsassemble.com/hubfs/MM_Commentary_PDFs/weekly-investment-commentary-en-us.pdf), including a look towards the week ahead. Or, read [BlackRock's recent commentary on this summer's metals and mining rally.](https://www.wrapmanager.com/wealth-management-blog/blackrock-industrial-metal-sector-august-2017) To learn more about [BlackRock](http://www.wrapmanager.com/money-manager-research/blackrock_inc) and other Money Managers, give us a call at 1-800-541-7774 or [contact us here](https://www.wrapmanager.com/contact) to speak with a knowledgeable Investor Consultant.   [Download Full Commentary Here](https://www.letsassemble.com/hubfs/MM_Commentary_PDFs/weekly-investment-commentary-en-us.pdf) [Get Free Research Reports about Blackrock Inc](http://www.wrapmanager.com/money-manager-research/blackrock_inc) [Economic/Market Outlook](https://www.letsassemble.com/wealth-management-blog/topic/economicmarket-outlook) [Blackrock Inc](https://www.letsassemble.com/wealth-management-blog/topic/blackrock-inc) [Money Manager Commentary](https://www.letsassemble.com/wealth-management-blog/topic/money-manager-commentary) [![get money manager picks](https://no-cache.hubspot.com/cta/default/10700/d72d98dd-a24b-41d8-9276-e1648f3b09d3.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/d72d98dd-a24b-41d8-9276-e1648f3b09d3) ### Subscribe to Updates [Subscribe to RSS Feed](https://www.letsassemble.com/wealth-management-blog/rss.xml) [![New Call-to-action](https://no-cache.hubspot.com/cta/default/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf) ### Most Recently Published ### Blog Authors [![Gabriel Burczyk](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381761-jpg/Athors_Avatars/Gabe-avatar.jpg "Gabriel Burczyk")](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [**Gabriel Burczyk,**](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [Founder & CEO](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [![Valerie De Vol](http://www.wrapmanager.com/hs-fs/hub/10700/file-2457588837-jpg/Athors_Avatars/Valerie-De-Vol-avatar.jpg "Valerie De Vol")](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [**Valerie De Vol, **IACCP® Chief Operating Officer](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [![Seton-avatar.jpg](http://www.wrapmanager.com/hs-fs/hub/10700/file-2344519198-jpg/Athors_Avatars/Seton-avatar.jpg "Seton-avatar.jpg")](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [**Seton McAndrews, **CFP® ](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews)[Vice President - Investments](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [![Doug Hutchinson](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381751-jpg/Athors_Avatars/Doug-avatar.jpg "Doug Hutchinson")](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[Doug Hutchinson,](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[CFA® ](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson)[Director of Research and Trading](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) ![Katie - square.png](https://www.wrapmanager.com/hubfs/Katie%20-%20square.png "Katie - square.png") [**Katie O'Connor **Director of Client Services](https://www.wrapmanager.com/wealth-management-advisors/katie-oconnor) **Important Disclosure Concerning WrapManager Blogs** Blogs found at this site have been created or supported by WrapManager. 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