Why Charles Schwab Stock Was Among the Big S&P 500 Gainers Wednesday

Core Insights - Charles Schwab shares experienced a significant increase after reporting strong customer and asset growth in July, with a stock price rise of 4.6% to close at $65.36 [1] Monthly Growth Trends - In July, Schwab achieved core net new assets of $29 billion, more than doubling the total from the same month last year [2] - Total client assets reached $9.57 trillion, reflecting a year-over-year increase of 16% and a month-over-month increase of 2% [2] - The firm added 327,000 new brokerage accounts in July, marking an 8% increase from the previous year and a 5% increase from the prior month [2] ETF Innovation and Executive Developments - Schwab launched its first actively managed fixed-income ETF, the Schwab Ultra-Short Income ETF (SCUS), aimed at generating income while preserving capital [3] - The company is the fifth-largest ETF issuer based on assets under management [3] - A new chief financial officer, Michael Verdeschi, will join the company on October 1, succeeding Peter Crawford [3] Stock Performance - Schwab shares reached a 52-week high of just under $80 in mid-May but have faced pressure recently, with a year-to-date decline of 3.9% despite the recent gains [4]