BlackRock (BLK) CEO Larry Fink said that "markets have been resilient to political shocks," but even as they anticipate policy normalization, "negative yields remain a reality in some countries."

Fink's comments were made on an earnings call highlighting the company's adaptation to a shifting geopolitical environment and a new wealth management industry centered on implementing technology.

Technology will change "the entire ecosystem of what we do," Fink said. BlackRock will spend $1 billion on technology and data solutions this year with over 3,500 employees in related roles including programming and quant analytics.

Fink also spoke at length about BlackRock's Aladdin Platform investment operating system. Aladdin will be a "transformation" for BlackRock to excel in portfolio construction and risk management. The margins are "subdued" during Aladdin's implementation process, but increased utilization and subsequent revenues will shift Aladdin to the front of BlackRock's operations.

BlackRock stock traded down almost 2% at Monday's open.

What's Hot on TheStreet

Amazon wants to upend every business, or so it seems: New day, a new business Amazon (AMZN) wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.

In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.

The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron (APRN) .

If you liked this article you might like

BlackRock to Pay Costs of External Research Per New EU Rules

Big Companies Say They Favor Diversity, Most Refuse to Prove It

China Communist Party Has Just Become Besties With Hong Kong

Hong Kong Investors Now Have a Comrade Shareholder: the Communist Party

What Mutual Fund Mark-Downs Say About Uber