Galeanu Mihai
The Schwab Trading Activity Index (STAX), released on Monday, edged up to 54.81 in July from 54.71 in June, as retail investors were net buyers of stocks during the four-week period ended July 26, 2024.
The STAX is a gauge that assess retail investor stock positions and trading activity from Charles Schwab’s (SCHW) client accounts. The July reading ranks “moderate” compared with historic averages.
It was an eventful month for equities. Stock-market indices continued hitting new highs during the first half of the period, only to relinquish nearly all of those gains as volatility spiked. By sector, Schwab (SCHW) clients bought most in Information Technology (XLK) and Consumer Discretionary (XLY), while selling was most pronounced in Financials (XLF), Health Care (XLV) and Industrials (XLI).
“The July STAX period ended with U.S. equity markets appearing little changed – but looks can be deceiving,” said Joe Mazzola, head Trading & Derivatives Strategist at Schwab. “July saw significant volatility, attributable to both geopolitical and technical factors.”
Popular names bought by Schwab (SCHW) clients during the period include: Nvidia (NVDA), Chipotle Mexican Grill (CMG), Broadcom (AVGO), Amazon.com (AMZN) and Alphabet (GOOG) (GOOGL).
Names net sold featured: Tesla (TSLA), AT&T (T), Palo Alto Networks (PANW), Exxon Mobil (XOM) and Boeing (BA).
