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Stock Market & Financial Investment News

News Breaks
June 13, 2014
08:08 EDTETFCE-Trade reports May DARTs down 9% from year-ago period
E*TRADE Financial released its Monthly Activity Report for May 2014. Daily Average Revenue Trades for May were 147,661, a 14% decrease from April and a 9% decrease from the year-ago period. The company added 29,571 gross new brokerage accounts in May, ending the month with approximately 3.1 million brokerage accounts an increase of 13,590 from April. Net new brokerage assets were $1.2B in the month. During the month, customer security holdings increased by 2.1%, or $3.9B, and brokerage-related cash increased by $1.1B to $39.9B. Bank-related cash and deposits ended the month unchanged, at $6.1B. Customers were net sellers of approximately $0.5B in securities during the month.
News For ETFC From The Last 14 Days
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October 2, 2015
13:26 EDTETFCBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.

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