The Schwab Trading Activity Index (STAX) increased to 43.69 in August 2025, up from its score of 41.79 in July. This marks a continued climb in retail investor trading activity.
Schwab clients were net buyers of equities in August, outpacing the S&P 500 index. Market volatility subsided during the month, with the Cboe Volatility Index (VIX) hitting a 2025 low of 14.12.
Joe Mazzola, Head Trading and Derivatives Strategist, noted that clients demonstrated greater confidence with their buying patterns, gravitating towards sectors like financials and health care. This indicates increased client engagement and potential for higher trading revenue.
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