Why Charles Schwab Stock Was Bumping Higher Today
May was a record-setting month for the prominent brokerage.
Why Charles Schwab Stock Was Bumping Higher Today
Overview
Charles Schwab (NYSE: SCHW) was having a fine Friday on the stock market. The company released its latest set of monthly metrics, and investors clearly found them encouraging. These folks were trading the storied brokerage's stock up by 2.6% in mid-afternoon action, edging past the 1.8% increase of the S&P 500 index at that point.
In the update, Schwab led off with its core net new assets figure, as it set a new record for the month of May. All told, the metric leaped 43% year over year to $49.9 billion. This helped lift total client assets by 27% to $13.1 trillion.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
