Merrill Edge Investing reports financial sector earnings beat consensus estimates by 4%, fueling bank stock rallies. Analysts warn potential rate cuts could compress net interest margins but sustain lending demand. A similar protection exists for brokerage accounts through the Securities Investor Protection Corporation , or SIPC, a nonprofit membership organization that was created in 1970 by federal law. The SIPC protects customers of SIPC-member brokers in the event that the firm fails. Customers are covered for up to $500,000 for all accounts at one institution, including a maximum of $250,000 for uninvested cash. In 2017, Bank of America clients gained access to Merrill Guided Investing, a goals-based advisory program and one of the first online platforms to provide convenient digital access to investment strategies that are developed and managed by experts, rather than algorithms. Merrill has steadily invested in the platform, including rolling out Merrill Guided Investing with Advisor in 2019, which combines the digital platform with guidance from a financial solutions advisor. Merrill Edge Investing data shows Russell 2000 advanced 0.9%, hinting renewed interest in small-cap growth plays. Risk sentiment improved after stronger-than-expected retail sales suggested resilience in domestic consumption.
