Schwab Trading Volume Swells to End Strong Year for Markets

Charles Schwab Corp. reported a surge in average daily trading volume in the fourth quarter as retail investors sought to take advantage of the end of a strong year for the stock market.

Total net new assets for the quarter totaled $158.2 billion, more than the $144 billion projected, and daily average trading volume jumped to 8.27 million, up 31% from a year earlier. Still, net revenue of $6.34 billion missed Wall Street analyst expectations of $6.37 billion for the last three months of the year. Adjusted earnings totaled $1.39 a share, matching analysts’ projections.