According to the financial news app, on Thursday, Charles Schwab (SCHW.US) rose more than 3% during intraday trading, hitting a new intraday high since January 2023 at $81.01. On the news front, as per the monthly activity report released today by Charles Schwab, trading liquidity funds in October increased by $10 billion compared to the previous month. This increase in funds is expected to enable Charles Schwab to repay short-term borrowings accumulated when customers withdrew billions of dollars from low-interest-bearing bank accounts last year.

According to the report from Charles Schwab, the amount of non-invested cash held in interest-bearing accounts by customers has increased, indicating that the company is firmly putting its cash classification issues behind it. Cash classification refers to the trend where investors move cash out of low-yield interest-bearing accounts, which is highly beneficial for financial companies, and shift the cash into higher-yielding options.