Retail Investors Beware: Not-So-Free Trading 9/2/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 2 September 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Labor Department released the number of American jobs added in August: 315,000. Only slightly below expectations, CNBC’s Steve Liesman and former CEA member Tyler Goodspeed consider what the report means for the Federal Reserve’s next rate hike. According to a new study by a group of professors, commission-free trades might not be free. UCLA Irvine Professor Christopher Schwartz explains the study, the fee and payout discrepancies between brokerages, and shares the best and the worst firms for retail trader pockets. As offices across the U.S. gear up for a reunion, China is locking down over 21 million people because of 700 covid cases. Former FDA Commissioner Dr. Scott Gottlieb discusses the difference between our approaches to public health, and shares which vaccines we should be getting–and when we should get them. Plus, Starbucks has named Howard Schultz’s successor, and Lululemon delivered a strong quarterly performance. In this episode: Dr. Scott Gottlieb, @ScottGottliebMD Becky Quick @BeckyQuick Mike Santoli @michaelsantoli Steve Liesman, @SteveLiesman Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C. M.C. producer Cameron Costa.
0:07.0	Today on Squack-Pod, The August Jobs Report,
0:11.0	315,000 jobs added last month. jobs
0:13.9	added last month. Pretty good, but what does it mean for the Fed's next rate hike? Our own in-house
0:20.3	economist Steve Leisman.
0:22.5	They're going to see 50,000 jobs created.
0:24.4	That's good.
0:25.2	But they're going to see the unemployment rate rising.
0:26.9	That's not a good thing.
0:28.2	And people I think are going to be concerned about that.
0:30.6	China's decision to lock down a city of 21 million people after 700 COVID infections.
0:38.0	Dr Scott Gottlieb.
0:39.4	Once these new strains get into an immune naive population, they can wreak havoc, and China right now is an immune
0:44.4	naive population with no end in sight.
0:46.5	Plus Starbucks naming a new CEO, Lulu Lemon delivering a happy surprise, and meme traders beware the first rule of economics.
0:56.3	There's no such thing as a free lunch or in your case a free trade.
1:01.8	UCLA professor Christopher Schwartz.
1:04.6	People think it's free and obviously the costs are, it's not free A and then B, the costs are very, very
1:09.1	different depending on what broker you use.
1:10.9	It's Friday, September 2nd. Squack Pod begins right now. Stand back you buy in three,
1:17.0	two, one, fuel. Good morning everybody. Welcome to Squack Box right here on CMBC.
	...

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