Charles Schwab July new brokerage accounts added increased 2% from a month ago

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Discount broker Charles Schwab Corp. said Friday that it added 206,000 new brokerage accounts in July, a 2% increase from June and up 14% from a year ago. Total client assets totaled $4.28 trillion at the end of July, up 4% from the end of June, and up 14% from the same period a year ago. The increases come as the Dow Jones Industrial Average rose 2% in July, the Nasdaq Composite gained 7% and the S&P 500 advanced 6%. Earlier Friday, fellow discount broker E-Trade Financial Corp. said the number of accounts at the end of July was 8.01 million, up 1% from the end of June and up 12% from a year ago. Charles Schwab’s stock has dropped 27.2% year to date, while E-Trade shares have climbed 19.5% and the S&P 500 has gained 4.4%.
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