The New York Stock Exchange on Jan. 21. Photo: Spencer Platt/Getty Images

Trading volume at online and discount brokers like TD Ameritrade and the recently acquired E*Trade has exploded over the past year, Bloomberg reports, with TD Ameritrade alone having seen million-trade days multiplying at a "record pace."

What's happening: So-called mom and pop retail investors are chasing the U.S. bull market via online brokerages, thanks largely to top brokerage firms cutting trading fees to zero.

Driving the news: "[D]aily average revenue trades ... have almost doubled to an all-time high since last September, data compiled by Sundial Research showed," per Bloomberg.

  • "The latest leg of [retail trader] emergence times closely with October, when E*Trade, Charles Schwab and TD Ameritrade slashed commission fees to zero."

Details: At TD Ameritrade, there were 38 days when the number of trades topped 1 million during the fiscal first quarter that ended Dec. 31, Steve Boyle, TD's interim president and CEO, told Bloomberg. That compares to 23 such days in all of fiscal year 2019.

  • E*Trade's daily average revenue trades have increased 74%.

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Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.