The so-called FAANG stocks – Facebook Inc. (NasdaqGS:FB), Amazon.com Inc. (NasdaqGS:AMZN), Apple Inc. (NasdaqGS:AAPL), Netflix Inc. (NasdaqGS:NFLX), and Alphabet Inc. (NasdaqGS:GOOGL) – mean more to the market than most investors realize.
As long as they’re going higher as a group, the market’s going to follow their lead.
But, if they start to go in different directions from each other – or, worse, if they start to slide together – the market’s headed for trouble, and possibly a sharp correction.
Click here to learn why…
Newsflash! According to the Wall Street Journal, “Merrill Lynch may reverse a ban on commissions in retirement accounts the firm manages, marking a potentially significant retreat for a leading advocate of fee-based accounts.”
Yes, the same Merrill Lynch that banned commissions in retirement accounts when the Labor Department’s “Fiduciary Rule” went into effect in April of 2016.
The same Merrill Lynch that fired up a media blitz touting its new policy and commitment to clients’ best interest, which was not, apparently, in Merrill’s best interest before.
All that groundbreaking happened because the new fiduciary rule was meant to protect retirement savers from conflicted financial advice from brokers seeking commission income.
So, what happened? What’s making “Mother Merrill” contemplate a return to the good old days of churning out commissions, which, of course, no brokerage would ever do?
I’ll tell you, but you may not like the truth…