tom: thank you very much. meantime, that's it for us tonight. thanks for joining us. louis coming back. he will be back here monday. among his guests. congressman louie gohmert and ed rollins. good night. >> announcer: from fox business headquarters in new york city, the new "wall street week." maria: welcome to "wall street week," the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. our special guest blackrock chairman and ceo larry fink. some of the big headlines of the week from wall street to main street. stocks extended gains, a steady stream of coach rat earnings helping the market. but thursday steven mnuchin reaffirmed the commitment to tax

reform this year. taking a look at other events overseas. british prime minister theresa may is calling for a snap election. may want to lead bring taken's exit from europe. isis claimed credit for a deadly shootout at the iconic champs-elysees where a gunman killed one police officer and seriously injured two others. general motors is halting operations in venezuela after its plants was unexpectedly seized by protesters. vice president mike pence is taking a hard line on north korea. pence demanded north korea abandon its nuclear weapons and

missile program immediately. goldman sachs stock plunged after it reported a rare disappointment in its first quarter report. blackrock ceo larry fink, it has 5.4 trillion in assets under management. blackrock reported earnings this week. can you characterize what you saw and where you are today? >> we saw huge interest in putting money into the market. we had a wall of money sitting in the sidelines and more interest in investing after the presidential election. it carried on through the first square. we had $80 billion in net new long-term flows which is a record for us. that's a lot of money. maria: that's incredible for one quarter.

>> $40 billion was in equity. $30 billion in fixed income. some of it was alternative and some of it was mull my asset. and it was global. we saw flows from europe, asia, south america and quite a bit of flows in the u.s. we saw a re-risk trade with a synchronized global growth which we are seeing. most countries growing faster than anyone expected in the third quarter. in addition we are seeing quite a bit of anticipation with the new administration's policies and how they will impact the economy. maria: i want to ask about that. recently the earnings period feels like the sentiment has improved. but the markets are waiting on tax reform and perhaps healthcare reform. and infrastructure package as well. how important are these policies and do you think we'll see changed policies this year?

that's what the markets are expecting. >> what we are actually experiencing a very slow first quarter. we are going to have our economy growing maybe at 7 to 8 tenth%. but what we hear from many ceos, they are not investing as much at this moment. they may be enthuse as enthused. but the market believes this will work out. the activities of correct orkss and you are seeing a slowdown in retail sales and factory orders. you are starting to see a slowdown. it probably is temporary, but

let's hope it's temporary because we don't want to see this slow growth going into the second quarter. we are looking for a successful administration in terms of find a course towards a deregulation policies that will help streamline the banking system, he lou maybe a more streamlined mortgage market. and in addition, what everybody is hoping for, some form corporate tax reform. we are a country that had the first or second highest corporate tax rate in the world. it does depress their people who want to never. if you extract all the abilities to deduct, we are not as bad. but we are still in the top third of the highest tax rate countries in the world. if we had a tax rate that was competitive or even more competitive than most countries,

it would bring businesses back here, foreign companies who wants to be here. we have an advantage most countries don't have. we have the cheapest energy of any major economy in the world. natural gas here is a third are of what it -- is a third of what it costs in europe and japan. a third of what it costs in china. so people would love to be here. but when you translate obviously the cost of taxation and some manufacturers i'm told, they can't come here because they can't finds the labor. we talk about how we need to create jobs. there is also another narrative, we can't find enough qualified workers. that's not being discussed enough. what we need, pain hope this administration focuses on it, we have to have governmental policy for retraining.

education is not being discussed enough. maria: we started this conversation talking about the anemic growth we saw in the first quarter. tax policy could move the needle on growth. do you think that will take place? is it the corporate rate that's most important to you in terms of tax reform? >> it would be a huge deal to take it to 15. even 20, it's a great rate. it's hard for me to see how we get to 15% unless we do huge deficit spending. i pinpointed 25 and i think that's very good. if we can find the revenues, then there will be -- in my view, especially now at a time where we see less immigration.

and we are in an economy that has some restrictions because what we have seen so many countries with weak demographics, that does put a ceiling on growth. if we do some giant stimulus package you may have a pop in growth, but it's probably borrowing from the future. what i think is where we can come out consistently, if we can have an economy that grows between 2.5 and 3 1/4 consistently. that's far better than what we had the last 8 years. that's a test of growth we could build wealth back for so many americans. the tragedy we witnessed is the tag nation of wages. and if we have obviously more job demand, we are going to see rising wages. we may have lower tax rates. but we are going to see rising

wages. >> do you think we'll sea-tac reform in 2017? that's i feel is what's holding up the markets. you said you had a wall of money. do you think that collapses if it doesn't happen in 17? >> the u.s. markets are vulnerable for a correction. if it was 10% i would be a big buyer. i don't like to talk about moments to buy itself. but tax reform is really hard. we found out healthcare is really hard. i'm not here to suggest whether it's going to ultimately come in 2017 or '18. if i want to see is a real path. fine-tuning how to get it. if we see a path where we have tax reform without massive deficit increases, if we see a

path that can help the lower and middle class, it can't just be corporate tax rate reduction, we have to found ways helping some of the people in need. if we can find that and create a consistent economy, then we could pay for all these tax reforms. so -- maria: you think we'll see it? >> i hope we'll see it. maria: larry talked to shareholders about technology and retirement savings. that's next. "wall street week" comes right back. >> announcer: blackrock looking to cut fees and make better stock picks with robots. larry fink explains when "wall street week" returns. and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess.

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instead use data mining tools to pick stocks. some are calling this robot stock pickers. tell me about the use of technology. you went through this in the annual letter to shareholders talk about how things have changed over the last 20 years and you are instituting new technology. aladea -- alladin is not so new. >> it became front major media event. there was a little fake news saying we are going from humans to machines which is not the case. anyway, blackrock has always had it foundation in technology. "aladdin." so when we started a company in one room, 25% 69 hires were tech n --were tech no jifts.

it's been a consistency of our term for the full 29 years. when you have one technology platform it creates a culture. what's the most important about it for us is it created that unifying culture. if you are on one technology platform everyone is communicating on that one pipe from client information to portfolios. it's fantastic. so our whole foundation has been technology. and as we witness in everything we do in our life, technology is rapidly change. so we built a huge foundation in risk management technology. but over the years, especially since the acquisition of bgi in 2009, it has been a leader in

quantitative analysis in bonds and equities. they call it model-based investing. that team has done exceedingly well even in all the volatility. even in the ups and downs and management, they continue to do well. first quarter they are doing well already in april. what we believe in now is because of the transformation of society where we have sensors everywhere, we can learn about where people are going, what store is having more foot traffic. we can learn who's walking across the street. these are all data points. we are talking about a human being. we are not watching anybody. it's not big brother. but we have information of volumes. the other thing, because so many of us use the internet for communication, you have ability

to do word analysis related to every company. most companies have blogs. you can find out what is the opinion of a company. there is absolute solid evidence when employees are happy with their company, their stocks do well. they are more productive and they are going to work. when people are unhappy with their company the stocks generally will under perform. so we are using more and more big data as a means to understand new insights for investing. i said we use thed technology for risk benefit. we are using more technology to help us get better insights how to invest, where to invest. maria: is the performance better on some of those models? >> we have some great stock pickers.

so i don't want to suggest it one way or another. but we have had great consistency with the model. the transformation is we have so much more information. why not use it? >> recently you said there will be lots of deal making going on in asset management. plus i want to get your take on the big event, the election in france. that continues in the next break. >> announcer: donald trump's presidency has markets soaring. but could france's version of the donald undo it all? don't let dust and allergens get between you and life's beautiful moments. flonase allergy relief delivers more complete relief. flonase helps block 6 key inflammatory substances that cause all your symptoms, including nasal congestion and itchy, watery eyes.

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it could come dawn to the far right candidate, marine le pen and the far left candidate jean-luc melenchon. i know you and many others were surprised when britain did decide to exit the european union. is this going to be a domino effect? >> we have four candidates. two considered more centrist. they are on the left side, too, but not as far left as the socialist-communist and far away from the far right. maria: marine le pen. do you think it results of the election will dictate whether we see france move to leave the euro zone as well? >> i don't believe so. i believe the outcome will be a

le pen and macron. that's what we are hearing in the continent. then round two, i would say more people would be gravitating to a macron. he's a socialist. but he's more of a centrist socialist. maria: that's what they are right now. socialists in france. >> but the far left is a communist. so i think there would be more gravitation and people would be fearful of le pen. obviously we'll find that together. i will be watching the election sunday night. it will have a dramatic impact if as you suggested the far left candidate and the far right candidate are the final two, and the two center people were out. that would be bad outcome. maria: why? what is the -- what is the

impact of the economics to europe? how will this play out impacting the rest us around the world. >> le pen has been consistent in talking about leaving the eurozone. that in itself is frightening. and also le pen has bench more in terms of xenophobia fear. close the borders. the far left communist candidate truly wants to socialize and truly wants to change the entire fabric of capitalism of france. so let's assume even though a macron wins, we should pay attention to the amount of people in france who believe in a le pen platform or how many men and women believe in a far left platform. that's a granularity that has to

be discussed and shows you the binary feeling about the future. maria: it's incredible. >> it's hard for capitalism to work unless you have more centrists worldwide. maria: it's good to see you. don't be a stranger. larpy fink. -- larry fink, chairman and ceo of blackrock, international. "wall street week" will be right back. online u.s. equity trades... ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪

maria: it's being to be a big week next week. we could have a healthcare bill on the table. a lot of economic data. consumer confidence. pending home sales. consumer confidence. all key indicators to watch. and we are in the first quarter

earnings. caterpillar, general mountains, all reporting their first quarter. amazon and microsoft coming up this week. congress gets back to work this tuesday. house speaker paul ryan says congress could vote on healthcare as early as this coming week. friday april 28 marks the ends of the continuing resolution to keep the government funded. unless congress meets an agreement government will shut down on april 29, which is the 100th day of president trump's presidency. that will do it for us on "wall street week." have a great weekend. tune in next week for a must-see

episode. i'll see you sunday morning at 10:00 a.m. for "sunday morning futures." "the property man" starts right now. een practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now, it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,