Charles Schwab Aktie
WKN DE: A2APTR / ISIN: US8085136005
16.09.2024 19:14:27
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Why Charles Schwab Is Rising Today
Shares of the large broker Charles Schwab (NYSE: SCHW) traded as much as 3.2% higher after the company reported a business update this morning, indicating that third-quarter results are trending as expected. The company also showed good net new asset growth.Schwab reported net new asset growth of $32.8 billion in August, $4.9 billion more than in August of 2023. August also included expected attrition ahead of a client conversion weekend in September, the biggest transition weekend of five held throughout the year.Transactional sweep cash (client funds yet to be invested) fell several billion from $371.8 billion in July to $366.8 billion in August, a significant improvement over August 2023 and 2022. Schwab has struggled in the high-interest-rate environment as clients have moved their sweep cash into higher-yielding financial instruments. Bank deposits had fallen roughly 17.5% year over year as of June.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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Aktien in diesem Artikel
Charles Schwab Corp Deposit Shs Repr 1-40th % Non-Cum Pfd Shs Series -D- | 24,49 | -0,85% |
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Charles Schwab | 60,42 | -5,83% |
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Rising Corporation Inc. Registered Shs | 1 400,00 | 0,00% |
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