Summary List Placement Despite this year's decline in total ad spending in the US, the financial services industry will increase its digital ad outlays. The pandemic has prompted many consumers to reassess their personal finances and change how they bank, leading the industry to continue spending on digital ads. We expect digital ad spending in the US financial services industry will increase 9.7% in 2020, to reach $19.62 billion. Consumer banks have closed a significant number of branches, temporarily or even permanently, because of the pandemic. Without a physical location to visit, many consumers have shifted to online banking. According to an April 2020 William Mills Agency survey conducted by The Harris Poll, 73% of US adults said they were more likely to use digital banking and digital payments during the coronavirus pandemic. In response to the online banking surge, banks and other financial services providers are focusing on improving the customer experience of their digital properties.
Summary List Placement The so-called "bond king" Jeffrey Gundlach said in a webcast Tuesday retail investor activity is "downright terrifying." While stimulus has helped many survive the pandemic, it has provided other amateur investors capital to invest in stock markets. Online trading platform Robinhood has added more than 3 million accounts in 2020. Day-traders have piled into several worthless stocks such as Hertz and JCPenney despite the risks. Visit Business Insider's homepage for more stories . Hedge fund billionaire Jeffrey Gundlach is sounding the alarm on a "downright terrifying" boom in day-trading and retail investor activity. The so-called "bond king" and founder of DoubleLine Capital, was quoted by CNBC in a webcast Tuesday as saying: "of course, retail investor activity is downright terrifying." He said an increase in trades-per-account on online brokerage platforms was worrying. "We just see how much trading is going on in retail," Gundlach said. Online platform Robinhood has taken the day-trading frenzy by storm, having booked 4.31 million daily average revenues trades in June alone, more than double the first quarter, a company spokesperson told Business Insider.
Ease of access to the stock market has led many new and young traders to capitalize on volatility and slashed fees , as risky assets and trading activities have seen volumes spike. That's the big takeaway from a recent E-Trade study , which found that more than half of investors younger than 34 (51%) say their risk tolerance has increased since the coronavirus outbreak. That's 23 percentage points higher than the total population. The Findings Over one in three investors (34%) said they're moving out of cash and into new positions — 15 percentage points higher than the total population. Over half of investors (51%) under the age of 34 said they are trading equities and 46% said they’re trading derivatives more frequently, compared to 30% and 22% of the total population, respectively. 9% of young investors said their investment portfolios have recovered since the beginning of the pandemic 50% think a recovery will happen in the next six months, compared to 33% of the total population Personal health (58%) and investment portfolio (53%) concerns remain the top worries for young investors To gain some perspective on how this increase in risky trades is impacting the markets, both positively and negatively, Benzinga spoke with DayTraderPro founder Guy Gentile.
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show trading trends among Gen Z and Millennial investors during the COVID-19 crisis: Risk tolerance skyrockets since the pandemic. Over half (51%) of Gen Z and Millennial investors say their risk tolerance has increased since the coronavirus outbreak, 23 percentage points higher than
No pregão desta terça, o S&P 500 fechou em alta de 0,23%, a 3.389,78 pontos, enquanto o Nasdaq subiu 0,73%, a 11.210,84 pontos. O índice acionário S&P 500 conseguiu finalmente nesta terça-feira (18) renovar a sua máxima histórica anotada em 19 de fevereiro, após várias sessões tentando superar a resistência da marca psicológica. O Nasdaq, por sua vez, renovou o recorde anotado ontem, estendendo os ganhos. No pregão de hoje, o S&P 500 fechou em alta de 0,23%, a 3.389,78 pontos, depois de renovar também o recorde intradiário, a 3.395,06 pontos, enquanto o Nasdaq subiu 0,73%, a 11.210,84 pontos, depois de tocar os 11.230,62 pontos. O Dow Jones, por sua vez, recuou 0,24%, na contramão de seus pares, a 27.778,07 pontos. Wall Street Lucas Jackson/Reuters Os ganhos foram liderados desde o começo da sessão pelas ações da Amazon, que fecharam em alta de 4,09%. Outras ações de tecnologia tiveram uma abertura menos positiva, mas ganharam fôlego ao longo do dia, com a ação da Alphabet subindo 2,61%, a da Microsoft avançando 0,58%, e a do Facebook fechando em alta de 0,45%.
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ:ETFC) today released the data from its monthly sector rotation study, based on the E*TRADE customer net percentage buy/sell behavior for stocks that comprise the S&P 500 sectors. About E*TRADE Financial and Important Notices E*TRADE Financial and its subsidiaries provide financial services including brokerage and banking products and services to retail customers. Securities products and services are offered by E*TRADE Se
Goldman Spots A Historic Inversion In The Market Tyler Durden Fri, 07/24/2020 - 11:25 Back in May when we explained " how retail investors took over the stock market " (which Bloomberg again confirmed overnight when it reported that hedge funds are now chasing robinhood investors, and buying whatever Millennial and GenZ daytraders are buying) we said that the recent surge in options trading - which has far more impact on market flows due to embedded leverage - has had a key role in this transformation, and cited Goldman data which showed that "individual investor active trading is playing an increased role in market volatility, particularly in select stocks. In the shares market, 2.3% of all volume is made up of trades for $2,000 or less. The increase in small trades has been even more notable in the options market, where 13% of all trades are for 1 contract." Since then, options trading by retail investors has exploded and according to a follow up from Goldman, which has spotted an unprecedented market inversion, for the first time ever, the volume of option trades surpassed that of ordinary shares!
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ:ETFC): Second Quarter Results Net income of $196 million Diluted earnings per common share of $0.88 Total net revenue of $716 million Daily Average Revenue Trades (DARTs) of 1,010,000 and derivative DARTs of 253,000, both Company records(1) Average interest-earning assets of $60.6 billion; net interest margin of 256 basis points Average margin receivables of $8.0 billion; end-of-period margin receivables of $9.4 billion Net
TradeZero America, a commission-free trading platform, formally announced a sponsorship deal with Barstool Sports founder Dave Portnoy. What Happened? On June 25, Portnoy without much explanation, was booted off of E*Trade Financial Corporation’s (NASDAQ: ETFC ) electronic trading platform. Alongside the development, TradeZero, a holistic trading technology and brokerage provider whose commission-free, direct-access routing web and desktop platforms allow market participants best-access to consistent execution and trading insights, onboarded Portnoy and announced it would sponsor the Davey Day … Full story available on Benzinga.com
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results indicate investors are bullish on the market but have a wary economic outlook: Bullish sentiment returns. Half of surveyed investors (51%) are bullish, rising 13 percentage points since last quarter. Investors are more likely to believe the market will rise. Over half of investors (51
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that it will report its second quarter 2020 financial results after the close of the US financial markets on Thursday, July 23. The Company will file its standard earnings press release and, in lieu of a conference call, will post supplementary materials on https://about.etrade.com. About E*TRADE Financial E*TRADE Financial and its subsidiaries provide financial services, including brokerage and bankin
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced two corporate social responsibility initiatives to advance social justice, address racial inequality, and further education in the communities where the company lives and works: $1 million donation: Split between the Equal Justice Initiative and the NAACP Legal Defense Fund. The Equal Justice Initiative is committed to challenging racial and economic injustice, providing legal representation, and prote
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for May 2020 and also provided an update for June to-date trading activity. Daily Average Revenue Trades (DARTs) for May were a record 982,000, and derivative DARTs were a record 252,000. Trading volume has continued to increase in June, with DARTs of 1,195,000 and derivative DARTs of 277,000 through June 10, 2020. E*TRADE has facilitated its five highest DARTs volume days of
ARLINGTON, Va.--(BUSINESS WIRE)--E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results show retirement trends among Gen Z and Millennial investors amid the COVID-19 crisis: They’re significantly more likely to take an early withdrawal. Nearly three out of five young investors (59%) said they have withdrawn early from their retirement accounts, compared to just one-third
Though escalating expenses remains a concern, E*TRADE Financial's (ETFC) strategic initiatives will support the company in the near term.
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