BlackRock's assets under management hit a new high in the second quarter as global markets rallied on the prospect of trade deals and interest-rate cuts from the U.S. Federal Reserve, brushing aside earlier tariff-related jitters.

BlackRock Inc. pulled in $46 billion to its investment funds, and assets hit a record of $12.5 trillion as clients rode out the volatility of President Donald Trump’s tariff policies in the second quarter.

Wall Street expects BlackRock to post higher profits and assets under management when the firm releases earnings Tuesday, following a volatile second quarter for investors. Analysts are calling for BlackRock to report per-share earnings of $10.

Trump stated that 20 leading technology companies have collectively announced the “largest package” of $92 billion in investments in Pennsylvania's history.

Pa., touted tens of billions of dollars of energy and technology investments Tuesday as the president traveled to Pittsburgh for a