Schwab Trading Activity Index™: STAX Score up in September Despite Inflation Concerns
Business Wire•05/10/2026•12:30 ET
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Key Highlights
- ➤STAX score rose to 58.92 in September from 57.50 in August
- ➤ETFs comprised five of Schwab’s top 10 client buys
- ➤Consumer Discretionary, Industrials, Consumer Staples and Financials led net buying
- ➤Bullish sentiment fell to 17% from 22% month-over-month
- ➤76% of surveyed clients expect at least one additional Fed hike before year-end
Expert Statements
Joe Mazzola, Head Trading Strategist at Charles Schwab
“The STAX score in September reflected sentiment that was more bullish than the major indices reflected, but the investment mix indicated that clients wanted to participate and maintain market exposure while mitigating some of the risks that come with individual stocks.”
Joe Mazzola, Head Trading Strategist at Charles Schwab
“ETFs accounted for five of the top 10 buys for the first time, which may reflect an effort on our clients’ part to reduce their overall portfolio beta.”
Schwab Trading Activity Index™: STAX Score up in September Despite Inflation Concerns
Schwab clients net bought the Consumer Discretionary, Industrials, Consumer Staples and Financials sectors but favored diversified exposure through ETFs
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