Want to monitor the markets while you’re on the road? Learn how, with the latest in-vehicle technology from TD Ameritrade.
Today’s markets move faster than ever—definitely faster than anyone’s car. With Americans driving more than they ever, and spending mind-numbing chunks of time stuck in traffic, this poses a dilemma: How can mobile investors stay connected to the markets when they’re increasingly on the go?
In 2018, American drivers lost an average of 97 hours due to traffic congestion, according to INRIX, Inc., which compiles and analyzes vehicle and road data. The 2018 cost (reflecting lost productivity and other factors) of sitting in traffic nationwide, INRIX estimated, totaled almost $87 billion, an average of $1,348 per driver.
Try as we might, we’ll never really beat the traffic. Fortunately for investors, technology similar to what enables you to ask your at-home digital assistant to do something—adjust your thermostat, play your favorite radio station, and so on—can help you stay on top of the markets in your car.
As voice-activated technology increasingly becomes part of everyday life and work, in-vehicle access to market information is a natural next step for investors, technology professionals say.
Using an in-vehicle app to check on the Dow or an individual stock may not the first thing that comes to mind after a driver settles in behind the wheel, “but it’s exactly this kind of connectivity that is the future of driving,” said Sunayna Tuteja, head of strategic partnerships and emerging technologies at TD Ameritrade.
In-vehicle voice apps “enable investors to engage with the markets when and where they choose and reflect the increasing ubiquity of this technology,” Tuteja added. “In a connected world, we have to meet investors where they are, whether at home, in the office or on the go.”
As the U.S. economy extends a decade-long expansion, more and more people are on the roads and streets—driving to work, going out shopping or dining, and taking vacations. During the 12 months ending in February, U.S. vehicle miles traveled totaled 3.23 trillion, an all-time high, according to the St. Louis Federal Reserve, citing data from the U.S. Federal Highway Administration.
At the same time, law enforcement is cracking down on motorists’ cell phone use. With the exception of Montana, all U.S. states now have distracted driving laws, according to Nolo, a legal information site.
In Illinois, for example, first or second violations for cell phone use or texting-while-driving carry a maximum fine of $1,000, according to Nolo. Illinois’ cell phone ban has a few exceptions, including one for voice-operated and hands-free device use.
In-vehicle market information apps serve a few critical purposes, helping investors maximize their time and productivity while keeping both hands on the wheel and both eyes on the road, noted Vijay Sankaran, chief information officer at TD Ameritrade (Apple CarPlay also provides access to the latest real-time market news with a new TDAN Radio app from the TD Ameritrade Network).
“Americans spend a lot of time in cars, and voice technology has completely changed the way we spend that time,” Sankaran said. “Today, drivers can use voice commands to ask their car to map their course, or to play their favorite song. We’re just scratching the surface of what’s possible Why not ask your car for a markets check?”
Use innovative platforms to change how you invest, from in-vehicle experiences to social media tools
for thinkMoney ®
Financial Communications Society 2016
for Ticker Tape
Content Marketing Awards 2016
Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.
Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.
* The TD Ameritrade Network is a direct-to-consumer, broadband-delivered broadcast channel, distributing original, live news broadcasts and educational content produced by TD Ameritrade Media Productions Company, a wholly-owned subsidiary of TD Ameritrade Holding Corporation. TD Ameritrade Media Productions Company is not a financial advisor, registered investment advisor, or broker-dealer.
**Brokerage services provided by TD Ameritrade, Inc., member FINRA/ SIPC.
Apple is a trademark of Apple, Inc., registered in the U.S. and other countries.
Amazon, Alexa, and all related logos are trademarks of Amazon.com, Inc. or its affiliates.
Android is a trademark of Google, Inc.
Market volatility, volume, and system availability may delay account access and trade executions.
Past performance of a security or strategy does not guarantee future results or success.
Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading subject to TD Ameritrade review and approval. Please read Characteristics and Risks of Standardized Options before investing in options.
Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2020 TD Ameritrade.