US Stock Market Move | Increase in cash not invested significantly, Charles Schwab Corp (SCHW.US) rises over 3%

On Thursday, Charles Schwab Corp (SCHW.US) rose more than 3% in intraday trading, reaching a new high since January 2023 at $81.01. According to the monthly activity report released today by Charles Schwab Corp, trading liquidity funds increased by $10 billion in October compared to the previous month. This increase in funds should enable Charles Schwab Corp to repay the short-term borrowings accumulated when customers withdrew billions of dollars from low-interest bank deposit accounts last year. Charles Schwab Corp reported that the amount of cash held by customers in interest-bearing accounts has increased, indicating that the company is moving past its cash categorization issues. Cash categorization refers to the trend of investors moving cash out of low-yield interest-bearing accounts, which is very advantageous for financial companies and moves cash into higher-yield options.