Google has redesigned Google Finance to educate consumers about the stock market
- Google redesigned Google Finance to educate consumers about the stock market, opening the space up to more users.
- This is one of Google's series of moves into financial services, and it seems it has now set its sight on trading next.
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The tech giant has redesigned its Google Finance service for desktop and mobile, which will make finding data on stocks and market trends easier for consumers, per a company blog post. Initially, Google Finance will be available in the US.
With the redesign, Google wants to help consumers make educated investment decisions. Users will be able to build their own watchlists to find relevant news, stats, and earnings details to gather more context on stock movements. Additionally, they will be able to add company events and earnings calls directly to their Google Calendar.
Later this year, Google will expand the watchlist feature, allowing users to play around with model portfolios and let them create their own portfolios to easily track gains and losses, as well as news relevant to the portfolio.
With low financial literacy among US consumers, the new tools can help people get started with investing, while also enhancing Google's financial services push.
- US consumers aren't familiar with investing yet, but educational tools can help build their confidence. Half of Americans reported they don't know whether buying a single company's stock usually provides a better return than investing in a mutual fund, per a study from J.D. Power cited by CNBC. Google Finance will help answer consumers' questions, for example, and provide definitions for technical terms on its website. Other investment platforms like Robinhood are also providing educational tools to help bolster consumers' financial literacy, but Google benefits from its wide reach and customer base to boost uptake of the new service.
- This is one Google's series of moves into financial services, and it seems it has now set its sight on trading next. Google has made moves into finance, most recently when it announced its plans to offer loans to small- and medium-sized businesses (SMBs) in India via its Google Pay for Business app, and said that it will start offering checking accounts to consumers. With the latest move, it seems that Google could have its eyes on the trading, and we might see the tech giant push further into the stock trading world in the future by rolling out its own brokerage service.
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