What Happened?
Shares of financial services giant Charles Schwab (NYSE: SCHW) jumped 3% in the afternoon session after the company released a strong monthly activity report for May 2026, showing significant growth in client assets and trading activity.
The report highlighted that total client assets grew to $13.14 trillion, a 27% increase from the previous year. Core net new assets, a key measure of business growth, rose 43% to a record $49.9 billion for the month of May. Schwab also added 461,000 new brokerage accounts, up 37% year-over-year, and saw daily average trades reach a record 11.8 million. Following the robust report, several analysts raised their earnings estimates for the company.
The shares were trading at $91.44, up 3.1% from the previous close.
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What Is The Market Telling Us
Charles Schwab’s shares are not very volatile and have only had 3 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 4 months ago when the stock dropped 6.9% on the news that the launch of a new artificial intelligence tool by financial software provider Altruist sparked concerns about disruption in the wealth management sector.
The tech platform announced a new AI-powered tax planning tool, which triggered a selloff across several wealth management stocks. The news raised worries that artificial intelligence could upend the traditional business models of financial services firms.
Other companies in the sector, including Raymond James Financial and Stifel Financial, also saw their stock prices fall as investors reacted to the potential competitive threat posed by new technology.
Charles Schwab is down 10% since the beginning of the year, and at $91.44 per share, it is trading 14.7% below its 52-week high of $107.21 from February 2026. Despite the year-to-date decline, investors who bought $1,000 worth of Charles Schwab’s shares 5 years ago would now be looking at an investment worth $1,270.
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