Schwab Trading Activity Index

Score Ascends to Moderate Levels in March - Seite 2

On March 20, U.S. Federal Reserve Chairman Jerome Powell indicated that despite recent readings, inflation is gradually decreasing, although confidence as to the timing of achieving the target rate may be understandably shaky. This was reflected in the month’s Consumer Confidence reading, which dipped below expectations and February’s reading in at 104.7. But traders seemed to move past any lingering worries over recession or a meaningful stock market pullback as they drove both the Nasdaq and S&P 500 to soaring new heights. Meanwhile, the CBOE Volatility Index (VIX) declined from 13.75 to 13.01, low by historical measures, as the 10-year Treasury yield exhibited a bit of its own volatility trading within a 30-basis point range before settling basically unchanged. The U.S. Dollar Index, too, was barely changed, closing at 104.55. May Crude Oil Futures, however, rose sharply by 8.7% and closed the March STAX period at $83.17.

Popular names bought by Schwab clients during the period included:

• NVIDIA Corp. (NVDA)
• Tesla Inc. (TSLA)
• Apple Inc. (AAPL)
• Advanced Micro Devices Inc. (AMD)
• Palo Alto Networks Inc. (PANW)

Names net sold by Schwab clients during the period included:

• Coinbase Global Inc. (COIN)
• Walt Disney Co. (DIS)
• PayPal Holdings Inc. (PYPL)
• Block Inc. (SQ)
• Netflix Inc. (NFLX)

About the STAX

The STAX value is calculated based on a complex proprietary formula. Each month, Schwab pulls a sample from its client base of millions of funded accounts, which includes accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly STAX.

For more information on the Schwab Trading Activity Index, please visit www.schwab.com/investment-research/stax. Additionally, Schwab clients can chart the STAX using the symbol $STAX in either the thinkorswim or thinkorswim Mobile platforms.

Investing involves risk, including loss of principal. Past performance is no guarantee of future results.

Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.

Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision.