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Stock Market & Financial Investment News

News For SCHW From The Last 14 Days
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October 9, 2015
08:03 EDTSCHWCharles Schwab: Retail money market funds to try to maintain NAV of $1 per share
Charles Schwab Investment Management announced planned changes to its money market fund line-up. To address new SEC regulations, all Schwab Prime and Municipal Money Market Funds plan to qualify as retail money market funds by October 14, 2016. As such, these funds will continue to seek to maintain a constant net asset value of $1 per share, and will be subject to potential liquidity fees and redemption gates in times of extreme market volatility. Schwab's Government Money Funds and the Schwab Money Market Portfolio will be officially designated as government money market funds under the SEC's new definition of such funds on April 14, 2016, and as a result, they will continue to seek to maintain a constant NAV of $1.00 per share. These funds have no plans to adopt a policy to implement liquidity fees or redemption gates at this time.
October 2, 2015
13:26 EDTSCHWBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
October 1, 2015
08:00 EDTSCHWSecurity Traders Association to hold a conference
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