Diamonds and Dogs
The chips in the lead to start the fourth quarter. After a downturn earlier in the year, the chips stocks are performing well heading into year end. The PHLX Semiconductor Index is up nearly 1% to start the day. Nvidia (NVDA) is jumping 2.5%. Cree (CREE) is up 2% after it appears the company secured a $500 million order from a customer in Europe. Analog Devices (ADI) is up 1.6%, Microchip Technologies (MCHP) is 1.5% and European based, NXP Semiconductors (NXPI) is up 2.6%.
Let's work for free. Charles Schwab (SCHW) is down 8%, two points from a 52-week low after announcing they will eliminate commissions for stocks, ETFs and options listed on U.S. or Canadian exchanges. Chuck Schwab has made investing more accessible to all Americans with the concept of low commissions to buy and sell stocks for forty-five years. Commission based trading revenue only makes up 8% of Schwab's business so their profits may not take a hit, investors don't seem to like the idea for the long term. Just ask all the recent money losing IPOs how their stocks are performing.
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