Economics
Fear Thaws Out for Investors as Online Brokers Defying Funk
This article is for subscribers only.
With U.S. stocks stuck in the sleepiest funk since the dawn of the Internet, one group is waking up: online and discount brokers.
E*Trade Financial Corp., Charles Schwab Corp. and TD Ameritrade Holding Corp. rallied 5 percent on average in June on speculation rising shares and the lowest volatility since 1986 will entice individuals. While analysts say earnings will fall this year for firms including Goldman Sachs Group Inc. and JPMorgan Chase & Co., profits are poised to surge 20 percent or more at their discount brethren.