Online stock brokers TD Ameritrade, E*Trade & Charles Schwab have officially cut their online broker commissions to zero. Charles Schwab was the first brokerage, Interactive Brokers followed suit in cutting their commission rates, then came along TD Ameritrade and E*Trade.
Many online brokers are cutting their commissions to nil (0 zero), because of the climate that brokerages such as Robin Hood has had on the industry, allowing free trades of equities to their clients.
Since then other brokers have also cut their commissions to incur more of fairer playing field for their investors, traders and account holders. Many have speculated this was bound to happen at some point. Well, it looks like it has finally arrived. -SB
Las Vegas gambling icon, Billy Walters has been convicted by a jury for insider stock trading. Mr. Walters had earned more then $43 million dollars from an insider trading tips over several years, from former chairman of Dean Food Company, Tom C. Davis. Davis testified against Walters stating that he made the $43 million dollars off of Dean Food’s over the course of approx six years.
Davis had been Walter’s best friend for over 20 years, and he was also the prosecution’s star witness against Billy Walters. Walters considered one of the greatest gamblers in the world, mainly betting on sports game, was also proactive in equities trading. His dominance as a multi millionaire, started in the gambling circut, then escalating his winning streak into the equities markets.
Mr. Walter’s businesses span from car rentals, golf clubs, real estate and car dealerships in Las Vegas, Nevada. His business empire is said to be worth $500 million dollars. He was convicted of all ten counts presented by the prosecutors and his sentencing is to July 14, 2017. -SB
Nigerian stocks took advantage for another day of upswings because of the outcome of this past weekends Presidential and Congressional elections. This is the indexes longest winning streak since 2012. Global equities jumped 8% percent on Wednesday impacting other equitable sectors to increase upward as well.
Nigerian stock indexes is up some 16% for the week of the Presidential elections and the impact is being noticed across the board. President Elect Muhammadu Buhari will have to make inroads with the economy nigerian markets because of the losses it has accrued this past year because of the decline of oil revenues. –SB