Charles Schwab also cut 600 jobs a few weeks ago. Is the end finally coming? After 10 years of historically low interest rates, and equally historic fiscal expansion, the stock market is up 400% from the lows achieved during the financial crisis. With the cost of living a middle class lifestyle as high as $350 000.00 in some big cities, have we reached the end of this inflationary cycle? How much higher can the stock market really go at this point. As history has shown many times, October is usually a point of reckoning.
CNBC: “The “race to zero” for the brokerage industry is over.
TD Ameritrade said late Tuesday that the company will eliminate all commission fees for online U.S. stock, exchange-traded fund and option trades. The move came hours after brokerage giant and competitor Charles Schwab said it is ending commissions for online trading this week. Analysts expect most of the industry to follow suit shortly.
The match by TD Ameritrade failed to shore up its crashing stock. Shares of TD fell 2% on Wednesday following a 25% plunge, its worst day in 20 years, on Tuesday. Analysts cited a higher reliance on commission revenues as a reason for its out-sized decline”. Read more