How about we start the upward trend today? Some Good news?
The market seems to like it.
Schwab Reports Monthly Activity Highlights $8 Billion in Net New Assets, Daily Average Revenue Trades Up 27% From August 1998
PR Newswire, Wednesday, September 15, 1999 at 09:02
SAN FRANCISCO, Sept. 15 /PRNewswire/ -- The Charles Schwab Corporation
(NYSE:SCH) released its Monthly Market Activity Report today. Company
highlights for the month of August include:
-- Customer daily average revenue trades were 126.4 thousand in August
1999, down 14% from July 1999 and up 27% from August 1998.
-- Net new assets brought to Charles Schwab & Co., Inc. (Schwab) by new
and current customers in August 1999 totaled $7.9 billion, up 23% from
August 1998.
-- Customer assets at Schwab were $594.8 billion as of month-end August,
up 1% from July 1999 and up 53% from August 1998. In comparison, the
Schwab 1000 Index(R) was down 1% from July 1999 and up 38% from August
1998.
-- Daily average trades through Schwab's Mutual Fund OneSource(R) service
were 38.2 thousand in August, down 9% from July 1999 and down 18% from
August 1998.
-- Customer assets in the SchwabFunds(R) family of funds reached
$99.5 billion as of month-end August, up 40% from August 1998, and
crossed the $100 billion mark in early September 1999.
President and Co-CEO David S. Pottruck commented, "August is often one of
the slower months of the year due to vacation season, and this year investors
were also focused on the August 24 meeting of the Federal Reserve. Since Labor
Day, our customers' daily average revenue trades have increased to 136,000."
The Charles Schwab Corporation, through its principal operating
subsidiary, Charles Schwab & Co., Inc. (member SIPC/NYSE), is one of the
nation's largest financial services firms, serving 6.3 million active investor
accounts with $595 billion in customer assets through 312 branches, four
regional customer telephone service centers and automated telephonic and
online channels. The Charles Schwab Web Site(TM) can be reached at
www.schwab.com. |
