Why Charles Schwab Stock Bumped Almost 4% Higher on Monday
Its proprietary trading index increased notably last month.
Overview
We can't say that Charles Schwab's (NYSE: SCHW) proprietary equity index is as closely followed as, say, the S&P 500 index. But when the Schwab Trading Activity Index (STAX) rises notably, investors take notice. That was the dynamic behind the brokerage's nearly 4% price bump on Monday.
During that day's trading session, Schwab announced that its self-named index had risen to 59.12 in June, notably up from its May level of slightly over 55. That set a multi-year high, the company pointed out.
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Originally published at www.fool.com.
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