With the Fed set to raise rates for the first time this year, expect financials, technology and home improvement suppliers to benefit.
Federal Reserve Board announces approval of application by The Charles Schwab Corporation
Schwab's (SCHW) revenues are likely to continue benefiting from increase in client assets and average interest earning assets.
E*TRADE Financial's (ETFC) first-quarter revenues are likely to reflect improvement due to higher DARTs.
Value ETFs sizzled in the nine-year bull market. Here's why.
Coinbase dashed the hopes of thousands of ripple investors, who've been holding out hope that the exchange would add the coin, when it revealed that its "major announcement" Tuesday afternoon was, in fact, the introduction of the Coinbase Index Fund, a pioneering investing vehicle that just might do to cryptocurrencies what the ETFs like the SPY did for stocks. The company published the announcement on its blog: We’re excited to announce Coinbase Index Fund. Coinbase Index Fund will give investors exposure to all digital assets listed on Coinbase’s exchange, GDAX, weighted by market capitalization. If a new asset is listed on the exchange, it will be automatically added to the fund. Index funds have changed the way that many people think about investing. By providing diversified exposure to a broad range of assets, index funds enable investors to track the performance of an entire asset class, rather than having to select individual assets. We’re excited to give our customers the ability to invest in the potential of blockchain-based digital assets as a whole. Twitter users were unimpressed however because, as the company pointed out, Coinbase and associated exchange GDAX only lists four coins... The news had some impact on the price of cryptocurrencies, which have been slumping Tuesday, with Ripple lower and the rest bouncing marginally higher... Huge announcement? Hardly — Game Traders (@gametraders) March 6, 2018 When is the @bgarlinghouse interview? Literally the only reason I live-streamed your shitty painful channel was to see it. Who cares that some guy nobody knows the name of from an exchange that only has 4 coins made a not so exciting announcement. Give us @bgarlinghouse — Tim (@timh886) March 6, 2018 That @coinbase announcement was lame. Index fund? So what. Try expanding assets first then maybe we will care. #xrp #trx #ada #sub #xlm # XVG. None of these are shit coins, like what the @coinbase person alluded to on the segment — Robby Ripple (@RobbyRipple) March 6, 2018 The company didn't offer a date for the product launch, saying only that it would be available "very, very shortly." However, there's a catch: the fund will only be available to accredited investors based in the US. Over time, Coinbase hopes it can expand as regulators grow more comfortable with the product. The fund will be pegged to Coinbase's new Coinbase Index... During an appearance on CNBC, Coinbase COO Asiff Hirji said crypto is "an asset class" and that "individual investors, they tend to trade in funds, and they tend to trade in index funds, passive investing. That's why we've created the index and we've created the index fund to enable that." Importantly, the company also said it would add more coins to its platform as it vets them and there is more "regulatory certainty." "We are committed to adding more assets to the exchange. If we add an asset to the exchange, it will show up in the fund. It will be market-cap weighted. We have a framework for how that works," Hirji said. "We’re trying to make this super simple," he added. The fund is marketed toward an entry-point for folks who are new to digital tokens, or for those who want a passive investment, Coinbase product manager Reuben Bramanathan told Axios. The fund also has a minimum investment of $10,000 and a flat 2% fee - though there are no performance fees. As Axios points out, Bitwise Asset Management announced its own token-focused fund in December, raising funding from several big name VCs. Several smaller companies are also looking into building indexes and funds of their own. But Coinbase, which has more brokerage accounts than Charles Schwab thanks to last year's rally, has the clout to become a major player quickly. Watch the full segment below: Coinbase president announces index fund, initially for accredited investors from CNBC.
Millennials have some crazy spending habits, but are we shocked? Not really.
Improvement in Daily Average Revenue Trades indicates strong fundamentals for Interactive Brokers (IBKR).
Morgan Stanley (MS) revises its 2017 earnings per share by 2 cents.
Пользователи Coinbase знали, что такой день настанет. Ведущая американская криптобиржа, где торгуются Bitcoin, Bitcoin Cash, Ethereum и Litecoin уведомила 13,000 пользователей по электронной почте об отправке их данных налоговой службе. Coinbase будет выполнять решение судьи Калифорнийского федерального суда, обязавшего биржу выдать данные о 13,000 пользователей налоговому управлению США (IRS). IRS особенно сильно интересуют счета с не менее чем $20,000 “по любому типу разовой транзакции”. Хотя количество переданной информации может показаться внушительным, это значительно меньше, чем то, что запросило ведомство в декабре 2016 года (500,000 счетов). В Coinbase считают это все же победой, так как биржа сделала все возможное в суде, чтобы защитить своих клиентов. Среди прочего, IRS потребовали “ID налогоплательщика, имя, дата рождения, адрес и историю транзакций пользователей с высоким оборотом средств за период между 2013-2015”. Согласно данным CNBC, по состоянию на октябрь Coinbase имела пользовательскую базу в размере 13.3 млн. аккаунтов. Тем не менее, пока неясно, сколько именно пользователей было в США. Тем временем, пользовательская база превысила количество аккаунтов традиционной биржи Charles Schwab, количество которых оставалось на уровне 10.6 млн. по состоянию на 4 квартал 2017 года. Осенью количество аккаунтов Coinbase выросло на сотни тысяч аккаунтов всего за неделю. Криптовалюты облагаются в США налогом как собственность. В результате, о прибыли от криптовалют нужно сообщать как о доходе от прироста капитала. Coinbase is Sending 13,000 Customer Records Over to the IRS, CCN, Feb 28Источник: FxTeam
The U.S. appeals court in Manhattan has revived Schwab's (SCHW) claims against banks, alleging them of Libor manipulation.
NEW YORK (Reuters) - Charles Schwab Corp and several of its mutual funds persuaded a U.S. appeals court on Friday to revive their lawsuit seeking to hold 17 banks responsible for manipulation of the benchmark Libor interest rate.
LPL Financial (LPLA) recorded total brokerage and advisory assets of $636 billion at the end of January 2018, up 3.5% from the previous month.
Schwab (SCHW) reported earnings about 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Below we share with you three top-ranked Schwab mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy)
Increase in client assets and average interest earning assets indicates that Schwab's (SCHW) revenues are likely to continue improving.
E*TRADE (ETFC) reports 29% rise in Daily Average Revenue Trades (DARTs) for January 2018, which came in at 315,572.
Despite the IRS's victory late last year in a lawsuit against Coinbase - the most popular cryptocurrency exchange in the US - that forced the organization to hand over transaction data pertaining to more than 14,000 users, surprisingly few Americans are reporting income from cryptocurrency trading as income this tax season. That's even more surprising considering the astronomical gains realized, not just by bitcoin, but by dozens of coins. Fewer than 100 people out of the 250,000 who have already filed federal taxes this year through Credit Karma reported a cryptocurrency transaction, Reuters reported Tuesday. This, despite nearly 57% of the 2000 Americans surveyed by the credit score startup and research firm Qualtrics last month saying they had realized some gains from cryptocurrencies last year, according to a Credit Karma study. About the same percentage of respondents said they had never reported a crypto transaction to the IRS. Meanwhile, about half said they understood how cryptocurrency gains might impact their taxes. As Reuters explains, the IRS considers cryptocurrencies to be property for federal tax purposes, meaning any profits or losses from the sale or exchange of the virtual coins must be reported as capital gains or losses. Still, it remains unclear exactly how many Americans hold cryptocurrencies, which were initially designed to protect the identities of their holders and can be difficult for federal authorities to trace. Coinbase famously surpassed retail brokerage Charles Schwab in terms of the number of accounts last year, but its unclear how many of those accounts are actively trading. However, there could be a more innocuous explanation than widespread tax dodging. Jagjit Chawla, general manager for Credit Karma Tax, said the company was not too surprised that few people had reported cryptocurrency gains as Americans with more complex tax situations tend to file closer to the deadline. "However, given the popularity of bitcoin and cryptocurrencies in 2017, we’d expect more people to be reporting," Chawla said in a statement. That, or even simpler: most of those reporting cryptoprofits for public survey purposes are lying. Around one million people filed their taxes with Credit Karma last year, the company said. The IRS expects 156 million individuals to file taxes this year. As we explained last year, because every cryptocurrency transaction exists on a public blockchain ledger, an enterprising organization - say like the NSA or IRS - could conceivably implement blockchain analysis tools to track down Bitcoin fund transfers around the globe. Moreover, most exchanges now require a driver’s license, passport and even a phone number in order to approve your account for trading.
Goldman Sachs (GS) targets average consumers with Marcus, aiming to reach $5 billion revenues target.