The Charles Schwab Family of Funds - Schwab Municipal Money Fund - SWTXX STOCK NEWS

Charles Schwab 's August 2024 Monthly Activity Report highlights significant growth and positive trends. Core net new assets increased to $32.8 billion, up from $4.9 billion in August 2023. Total client assets reached $9.74 trillion, a 20% increase year-over-year. New brokerage accounts grew by 4% compared to August 2023, totaling 324,000.

Despite typical August seasonality, transactional sweep cash declined modestly to $366.8 billion, showing improvement over previous years. The company anticipates third-quarter results to align with July's Business Update, projecting 2-3% revenue growth and an adjusted pre-tax profit margin of at least 40%. These results reflect healthy investor engagement and slowing rate-related client cash realignment activity.

The latest Charles Schwab Trader Sentiment Survey reveals a surge in trader optimism, with 56% reporting a bullish outlook for the next three months, up 10 points from Q2. Nearly 60% of traders believe it's a good time to invest, and over half feel financially better off compared to last year. Inflation concerns have decreased, while expectations for Fed rate cuts have increased.

Traders favor AI stocks (62%) and are most bullish on the Information Technology sector (61%). The survey also highlights increased positive sentiment towards growth stocks, mega-cap tech, and domestic stocks. As the 2024 presidential election approaches, 94% of traders believe it will impact financial markets, with 44% reducing portfolio risk in preparation.

Charles Schwab 's July 2024 Monthly Activity Report reveals strong performance and growth. Core net new assets reached $29.0 billion, more than doubling July 2023 levels. Total client assets hit $9.57 trillion, up 16% year-over-year and 2% month-over-month. New brokerage accounts increased by 327,000, showing 8% and 5% growth compared to July 2023 and June 2024, respectively.

While transactional sweep cash slightly decreased to $371.8 billion (down 1% from June 2024), client market engagement remained robust. The combined decline in bank sweep deposits and broker-dealer cash balances was less than $1 billion month-over-month, indicating stable cash management despite market activity.

Schwab Advisor Services and Charles Schwab Foundation have announced the 13 recipients of the 2024 Registered Investment Advisor (RIA) Talent Advantage Student Scholarship. Each recipient will receive $10,000 to support their 2024-2025 academic year and be paired with an RIA leader for mentoring. The initiative aims to increase access to the advisory profession by reducing financial obstacles and maximizing learning for future leaders.

Over 500 students from 100+ universities applied, with applications vetted by RIA firm leaders on Schwab's Diversity, Equity & Inclusion Advocacy Board. The 2024 RIA Benchmarking Study highlighted a need for 70,000 new staff in the industry over the next five years. Schwab's efforts, including the RIATA Scholarship and the Student Program at the 2024 IMPACT Conference, aim to support, educate, and mentor the industry's future talent.

The Schwab Ultra-Short Income ETF (NYSE Arca: SCUS) has commenced trading, marking Schwab Asset Management's first actively managed fixed income ETF. With an expense ratio of 0.14%, SCUS is priced competitively below the industry average of 0.25%. The ETF aims to provide current income while preserving capital and maintaining liquidity.

SCUS invests in investment grade, short-term, U.S. dollar denominated debt securities from both U.S. and foreign issuers. The fund maintains a portfolio duration of one year or less, focusing on ultra-short-term investments. This new offering expands Schwab's ETF lineup, potentially appealing to investors seeking low-risk, income-generating options in the current market environment.

Schwab Asset Management, part of The Charles Schwab , is launching its first actively managed fixed income ETF, the Schwab Ultra-Short Income ETF (NYSE Arca: SCUS). Set to begin trading around August 13, this ETF offers:

- Access to U.S. dollar-denominated investment-grade, short-term bonds
- An expense ratio of 0.14%, below the industry average of 0.25%
- A focus on current income with capital preservation and liquidity
- Portfolio duration of one year or less

This launch marks Schwab's 10th bond ETF and 31st ETF overall, solidifying its position as the fifth-largest ETF provider. The company aims to offer among the lowest-cost bond ETFs in the industry.

Charles Schwab (SCHW) has declared a regular quarterly cash dividend of $0.25 per common share, payable on August 23, 2024, to stockholders of record as of August 9, 2024. The company also announced dividends on six series of outstanding preferred stock, all payable on September 3, 2024, to stockholders of record as of August 19, 2024. These include:

• Series D: $0.372000 per depositary share
• Series G: $13.437500 per depositary share
• Series H: $10.000000 per depositary share
• Series I: $10.000000 per depositary share
• Series J: $0.278250 per depositary share
• Series K: $12.500000 per depositary share

This dividend declaration demonstrates Schwab's commitment to returning value to shareholders across both common and preferred stock classes.

Charles Schwab's annual 401(k) survey reveals improved worker confidence in achieving retirement goals, with 43% feeling very likely to reach their targets, up from 37% in 2023. Despite softening concerns, inflation (58%) and market volatility (36%) remain top obstacles. Workers still aim for a $1.8 million nest egg, expecting it to last 23 years post-retirement.

The study highlights increased 401(k) engagement, with 92% of respondents aware of their account performance. Demand for professional financial advice has risen, with 61% believing their situation warrants it. Workers expect 43% of retirement income from 401(k)s, up from 40% last year, while reliance on Social Security has decreased from 20% to 16%.

Charles Schwab (SCHW) reported strong Q2 2024 results, with net income of $1.3 billion and diluted EPS of $0.66. Adjusted figures were $1.5 billion and $0.73, respectively. Total client assets reached a record $9.4 trillion, up 17% year-over-year. Core net new assets rose 17% to $61.2 billion. The company's pre-tax profit margin was 37.2% (41.0% adjusted). Schwab's Tier 1 Leverage Ratio stood at 9.4%, with an adjusted ratio of 5.9%. The company saw robust client engagement, with active brokerage accounts up 4% to 35.6 million and margin balances increasing 15% since the end of 2023 to $71.7 billion.