09:42 AM EDT, 09/06/2024 (MT Newswires) -- BlackRock ( BLK ) is reorienting its investment strategy more toward value stocks and fixed-income as markets enter a "new phase" with expected Federal Reserve interest rate cuts and the looming US presidential election, Bloomberg reported Friday, citing an investment outlook it viewed.

Consequently, billions of dollars moved between corresponding BlackRock ( BLK ) exchange-traded funds on Thursday as the company tweaked its model portfolios, Bloomberg reported, citing a person familiar with the matter. Though the moves are seen as a de-risking strategy, the backdrop is still bullish overall, according to the report.

BlackRock ( BLK ) did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 882.87, Change: +6.23, Percent Change: +0.71