Schwab Trading Activity Index™ Climbs in October Amid Cautious Optimism
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WESTLAKE, Texas–(BUSINESS WIRE)– The Schwab Trading activity Index™ (STAX) increased to 48.12 in October, up from 46.12 in September. The STAX is a proprietary, behavior-based index analyzing retail investor stock positions and trading activity from Schwab’s millions of client accounts, illuminating investor behavior and market positioning.
The reading for the five-week period ending October 31, 2025, ranks “moderate low” compared to historic averages.
“We continue to see signs of cautious optimism when it comes to our clients’ trading behavior,” said Joe Mazzola, Head Trading and Derivatives Strategist at charles Schwab. “Stocks are expensive right now, but the markets keep going up, so retail investors appear to be taking advantage of dip-buying opportunities were they can.Even with limited economic data due to the ongoing government shutdown, clients continued to increase exposure as the market kept soaring, despite concerns about how top-heavy it may be becoming.”
The STAX climbed in just two of the five weeks tracked in October, starting and finishing the period strong but falling in the weeks between. Magnificent seven earnings, a Federal Reserve rate cut, and excitement over progress on U.S./China trade relations appeared to bring buyers back in the final week of the month. At the sector level, the top three net-buys in October were dialog services, financials, and industrials. The three that saw the most net-sells from Schwab clients were details technology,consumer discretionary,and health care.
October’s STAX revealed a divergence in sentiment between generations. Generation X (born between 1965 and 1980) appeared to be the most bullishly positioned investor group, while Generation Z (born between 1997 and 2012) was the least aggressive.
Volatility was a bigger factor in October than in September. The Cboe Volatility Index (VIX) tested 29 mid-month,up from recent lows of around 15,on concerns about potential credit issues involving bank loans. This followed a wave of selling that took the S&P 500 index (SPX) down nearly 3% on October 10-the worst drop since April-following renewed U.S./China trade threats. By month’s end, credit and trade worries had diminished following a meeting between Presidents Trump and Xi.
This occurred during a U.S.government shutdown that limited official data release. Stocks rose nonetheless, and the Fed delivered a 25-basis point rate cut in late October despite persistent inflation. The Fed cited jobs market worries, but Chairman Jerome Powell’s hawkish post-meeting comments dampened expectations for another cut in December.
Earnings season began mid-October, with generally solid results from large U.S. banks and the Magnificent Seven, helping major indexes reach new all-time highs. Of the S&P 500 companies reporting through…
Charles Schwab Announces Record High Client assets and Strong October Trading Activity
WESTLAKE, Texas – November 10, 2025 – The Charles Schwab corporation (NYSE: SCHW) today announced record high total client assets of $8.93 trillion as of October 31, 2025.The firm also reported strong trading activity during the month, driven by market volatility and investor engagement.
Key Highlights from October 2025
- Record Client Assets: Total client assets reached a record $8.93 trillion, an increase from previous reporting periods.
- Net New Assets: Schwab experienced notable net new assets, demonstrating continued client trust and growth.
- Trading Volumes: Daily average trading volume (DARTs) increased to 9.2 million, reflecting heightened investor activity. This represents a 15% increase compared to the prior month.Source: Charles Schwab
- Schwab Bank Interest Earning Assets: Average interest earning assets for Schwab Bank were $346.6 billion.
Investor Engagement and Market Conditions
The increase in trading activity reflects investor response to market fluctuations and ongoing economic uncertainty.schwab continues to provide clients with tools and resources to navigate these conditions, including educational materials, financial planning advice, and access to a wide range of investment products.
about Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading financial services firm. Schwab is committed to helping its clients achieve their financial goals through a wide range of investment products, banking services, and financial advice. Learn more at aboutschwab.com
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