said its average trading volume ticked up in July from June.
The discount brokerage said average daily trades were 133,700 in July, up 6% from June but down 10% from a year ago. July saw the release of most companies' second-quarter profit statements, a phenomenon that often boosts investor interest.
Schwab said total client assets stood at $975.6 billion at the end of July, down 2% from June 2004 but up 14% from July 2003. Daily average trades through Schwab's Mutual Fund OneSource service were about 62,900 in July, down 1% from June but up 9% from a year ago.
In late May, Schwab announced plans to cut commissions on equity trades to $19.95 from $29.95, a market-share grab that some thought would cost it near-term earnings. The company fired CEO David Pottruck on July 20, the same day it reported a 10% decline in second-quarter profit.
The stock closed at $8.65 Thursday.