Banking, finance, and taxes
Schwab Up Despite Service Outage (SCHW, AMTD, ETFC, BAC, JPM)
Published:
If someone told you that Charles Schwab Corp. (NASDAQ:SCHW) was back in positive territory on the day the market fell 300 points in the DJIA AND on a day that many of its customers could not even access their trading accounts, would you believe it? Guess what. That is what happened.
Look at E*Trade (NASDAQ:ETFC). It fell well over 20% on fears and rumors of all those mortgages they had leading to major charges in the company with the sums being tossed around too large fit to print. We noted yesterday how its trading numbers rose but its customer internals were weakening on the strength of each account. TD AMERITRADE (NASDAQ:AMTD) is still down 4% on the day. Both of these stocks hit new 52-week lows today.
The money center banks are viewed as at least some form of insulation today. Maybe it is massive short covering. Maybe it is massive buying with the prevailing thought that they will not die in a severe slowing with a huge credit crunch. JPMorgan (NYSE:JPM) is now up 5% and Bank of America (NYSE:BAC) is up 3.5%.
Jon C. Ogg
August 16, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
