New York – BlackRock’s shares rose 2% in premarket trading following the release of better-than-expected first-quarter earnings results. The asset management giant reported an adjusted earnings per share of $9.81 on revenue of $4.73 billion, surpassing analyst estimates. BlackRock’s assets under management totaled $10.473 trillion, exceeding expectations.

Seoul, South Korea – The Bank of Korea maintained its key policy rate at 3.50% for the 10th consecutive time. The central bank expressed caution about inflation reaching target levels due to uncertainties surrounding consumer price inflation. South Korea’s consumer prices increased by 3.1% year-on-year in March, falling short of the 2% target. The Bank of Korea emphasized its commitment to a restrictive monetary policy stance until confidence in achieving target inflation levels is established.

Singapore – The Monetary Authority of Singapore opted to keep its policy unchanged, maintaining the width and level of its policy band. Unlike other central banks, Singapore uses exchange rate settings to guide its monetary policy instead of a benchmark rate. The monetary authority anticipates elevated inflation in the near term, with a projected decrease in the fourth quarter of 2024 and into 2025.

Stock futures were relatively flat on Thursday night as futures tied to the major indexes showed minimal movement. Globe Life witnessed a bounce back in its stock price after a significant selloff during Thursday’s trading session. The sharp decline followed allegations of insurance fraud from short-seller Fuzzy Panda Research, citing concerns about the company’s multi-level marketing structure.

Major stock indexes experienced mixed performance ahead of Friday’s trading session. The S&P 500 declined slightly, while the Nasdaq Composite and the Russell 2000 posted gains. The Dow Jones Industrial Average also saw a decrease in value.

In summary, BlackRock’s strong earnings performance led to a rise in its shares, while central banks in South Korea and Singapore maintained their monetary policies amidst economic uncertainties. The stock market exhibited varied movements, with Globe Life rebounding from a steep decline attributed to allegations of fraud. Investors are closely monitoring these developments as they navigate the current market landscape.