Client Trading Up 28% at Charles Schwab
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Charles Schwab Corp., the biggest U.S. discount brokerage, said Tuesday that client stock trading in January rose 28% from December levels but surged 70% from the year-ago month.
Schwab, based in San Francisco, reported 215,000 daily average revenue trades for January.
“The surge in client trading activity that accompanied January’s economic news and corporate earnings reports has moderated thus far in February, consistent with our experience in recent years,” Chief Executive David Pottruck said.
Client assets were $992 billion at the end of January, up 31% from a year ago and 3% higher than in December.
Schwab shares rose 34 cents to $12.94 on the NYSE.
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