Unemployment Numbers Near 50% & COVID Fears Stall Reopenings | Fractional Shares and Their Market Disruption – Daily Financial News & Insights for Monday, June 29, 2020

Unemployment Numbers Near 50% & COVID Fears Stall Reopenings – Daily Financial News Summary for Monday, June 29, 2020 Stocks ended the first day of the week in the green, a welcoming change of pace from last week. At the end of the trading day on Monday, the Dow Jones climbed by 2.32%, the S&P 500 by 1.47%, and the NASDAQ by 1.20%. New Jersey had been planning to implement a reopening of indoor dining in the state. However, due to a sharp incline in Covid19 cases after various states started reopening restaurants, the governor has decided against the plan. Gov. Phil Murphy sent out a tweet on Monday: “UPDATE: INDOOR DINING WILL NO LONGER RESUME ON THURSDAY. We had planned to loosen restrictions this week. However, after #COVID19 spikes in other states driven by, in part, the return of indoor dining, we have decided to postpone indoor dining indefinitely.” Florida had an increase in new cases of 5,409 on Sunday. This is a decrease from the 8,424 that was reported on Saturday. It was recently announced that Miami and Fort Lauderdale will be closing their beaches over the Fourth of July Weekend in order to curb the spread of infections. READ MORE: https://callputstrike.com/2020/06/29/unemployment-numbers-near-50-covid-fears-stall-reopenings-daily-financial-news-summary-for-monday-june-29-2020/ Fractional Shares and Their Market Disruption When it comes to investing in the stock market, there can be many different aspects that people are not aware of. Fractional shares are not often discussed in everyday conversation, but they play a huge role in the stock market. What Are Fractional Shares? Having less than one full share of an equity stock is known as a fractional share. This will usually happen due to a stock splitting, merger, or a dividend reinvestment plan. Fractional shares aren’t available to obtain from the stock market and are difficult when trying to sell them. Fractional shares can only be sold through a brokerage. The Market Disruption of Fractional Shares The method that Robinhood and Charles Schwab have employed of eliminating commission fees on trades has disrupted the industry. Other companies that have been in the industry for much longer, such as E*Trade Financial, Interactive Brokers and TD Ameritrade, have also been forced to abolish their commission fees in order to stay in competition with them. Tenev is proud of the fact that his company has helped bring about this change: “Robinhood pioneered commission-free investing in stocks. We can be really proud of not just creating a world where our own customers don’t pay commissions, but customers of other brokerages have benefited as well.” Once customers realized that they now have a choice on where to trade commission-free, Robinhood had to offer something else in order to keep them. This is when Robinhood unveiled its program of allowing customers to buy fractional shares in companies. This is the case for both individual stocks and ETFs. READ MORE: https://callputstrike.com/2020/06/29/fractional-shares-and-their-market-disruption/