Schwab Trading Activity Index™: STAX Score Reaches a Four-Year High in June

WESTLAKE, Texas--(BUSINESS WIRE)--Jul 6, 2026--

The Schwab Trading Activity Index™ (STAX) increased to 59.12 in June, up 7.33% from its score of 55.08 in May. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab’s millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month.

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“Though major market averages retreated slightly from recent all-time highs in June, closing the month with minor losses, there was no ‘June swoon’ to be found among Schwab clients,” said Joe Mazzola, Head Trading and Derivatives Strategist at Charles Schwab. “After retreating slightly in the first week of June, the STAX rose every subsequent week of the month, and net buys outpaced net sells by more than two-to-one.”

The STAX score rose roughly four points in June, hitting a new multi-year high. Retail investors continued to buy the dip, and the heaviest buying coincided with the mid-month market pullbacks during the weeks ended June 12 and 19 . Economic data in June was familiar, with inflation ticking higher and jobs holding steady, and the Federal Reserve remained hawkish in Chairman Kevin Warsh’s debut. At the end of May, the CME FedWatch Tool reflected a 50% chance for a rate hike later this year, and by June those odds shifted to nearly 83%.

Client options activity was mixed in June, with net buying seen on popular broad-based index and ETF options as well as single-stock names. Elsewhere, options-trading clients appeared to take advantage of dispersion between index and single-stock volatility by selling elevated implied volatility. For some single-stock names, put selling outweighed call selling, suggesting a neutral-to-bullish market bias among those looking to generate income through short options strategies.

At the sector level, Information Technology again topped the net-buy list in June, followed by Communication Services and Consumer Discretionary. The top five buys were all components of these three sectors. Though selling activity was light, the other eight sectors were net-sold with Financials, Health Care and Consumer Staples bringing up the rear.

From a generational perspective, STAX scores continued to rise across every age group in June, building on May’s rebound. Generation X (1965–1980) remained the most bullish, continuing a recent trend and hitting a two-year high. Baby Boomers (1946–1964) trailed well behind and Millennials (1981–1996) were a close third. Generation Z (1997–2012) once again showed the most risk aversion.

Popular names bought by Schwab clients during the period included:

Names net sold by Schwab clients during the period included:

About the STAX

The STAX value is calculated based on a complex proprietary formula. Each month, Schwab pulls a sample from its client base of millions of funded accounts, which includes accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly STAX.

For more information on the Schwab Trading Activity Index, please visit www.schwab.com/investment-research/stax. Additionally, Schwab clients can chart the STAX using the symbol $STAX in either the thinkorswim ® or thinkorswim Mobile platforms.

Investing involves risk, including loss of principal. Past performance is no guarantee of future results.

Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction.

Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision.

The STAX is not a tradable index. The STAX should not be used as an indicator or predictor of future client trading volume or financial performance for Schwab.

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at aboutschwab.com. Follow us on X, Facebook, YouTube, and LinkedIn.

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Schwab Trading Activity Index vs. S&P 500 (Graphic: Charles Schwab)

Schwab Trading Activity Index June 2026 (Graphic: Charles Schwab)

DEIR AL-BALAH, Gaza Strip (AP) — The Hamas militant group said Monday it had dissolved its government in Gaza and is preparing to transfer power to a technical committee backed by the United Nations as part of a U.S.-brokered ceasefire deal.

Hamas did not say whether it planned to take the crucial step of disarming or handing over security to an international force, but described its decision as evidence of its commitment to Gaza’s reconstruction after years of war.

It was unclear if the move, announced by a lower-level official, would lead to any meaningful change on the ground.

The Board of Peace, the new entity led by President Donald Trump with the mandate of governing and rebuilding Gaza, said it was aware of the Hamas announcement but would assess the impact based on “actions, not promises.” The board stressed in a statement on X that the technocratic committee must control all weapons in Gaza, as laid out in the ceasefire agreement.

At a news conference Monday, Ismail al-Thawabta, general director of the Hamas-run Government Media Office, said “only technical and professional staff” would remain in their positions to run the Palestinian enclave’s day-to-day affairs.

“All employees working in service provision are ‘state employees’ and are fully prepared to work under the National Committee for the Administration of Gaza,” al-Thawabta said during a news conference in the courtyard of Al-Aqsa Hospital in Deir al-Balah. Hamas spokesperson Hazem Qassem called it “a positive step forward on the path to implement the ceasefire deal.”

Israeli Foreign Minister Gideon Saar dismissed the move, saying it was designed to avoid disarmament. “As long as Hamas retains its weapons, any civilian government will of course operate as Hamas dictates,” he wrote on X.

The committee of technocrats, which is based in Cairo, is chaired by Ali Shaath, a Gaza-born engineer and former official with the Palestinian Authority. It has a mandate to restore essential services and oversee civilian affairs under the supervision of the U.N. and the Board of Peace.

In a statement on X, Shaath acknowledged the Hamas announcement Monday and said that in order for the committee to function effectively, there must be “a single governing authority operating under one legal framework” and “a unified security apparatus accountable to that authority.”

Nine months after the ceasefire was signed, negotiations between Israel and Hamas remain largely deadlocked over the implementation of its second phase, including the disarmament of Hamas and the reconstruction of Gaza.

Hamas has insisted on implementing the first phase before moving to discuss its weapons.

The Oct. 7, 2023, attack by Hamas-led militants that sparked the war killed some 1,200 people in Israel and saw 251 others taken hostage. Israel’s retaliatory offensive in Gaza has killed 73,098 Palestinians, according to Gaza's Health Ministry.

The ministry, part of the Hamas-led government, is staffed by medical professionals and maintains detailed records viewed as generally reliable by U.N. agencies and independent experts. It does not distinguish between civilians and militants but says women and children make up around half of all fatalities.

Israeli strikes have lessened considerably since the ceasefire took effect on Oct. 10, but they continue almost daily. Israel’s military says it targets Hamas and other militants, often asserting they were planning attacks. The strikes have also killed many civilians.

On Monday, Israeli strikes killed at least five people in Gaza, including three in Khan Younis in the south and two in an apartment in Gaza City, health officials said.

The Israeli military said it targeted a Hamas operative in the Gaza City strike and a militant from the Palestinian Islamic Jihad militant group in the attacks in Khan Younis.

Associated Press writer Melanie Lidman in Jerusalem contributed.

Palestinians look at a destroyed car following an Israeli military strike in Khan Younis, southern Gaza Strip, Monday, July 6, 2026, that, according to hospital officials, killed at least one person. (AP Photo/Mohammad Jahjouh)

Palestinians look at a destroyed car following an Israeli military strike in Khan Younis, southern Gaza Strip, Monday, July 6, 2026, that, according to hospital officials, killed at least one person. (AP Photo/Mohammad Jahjouh)

Palestinians look at a destroyed car following an Israeli military strike in Khan Younis, southern Gaza Strip, Monday, July 6, 2026, that, according to hospital officials, killed at least one person. (AP Photo/Mohammad Jahjouh)

Ismail al-Thawabta, general director of the Hamas-run government media office, center right, speaks during a press conference at Al-Aqsa Hospital in Deir al-Balah, central Gaza Strip, Monday, July 6, 2026. (AP Photo/Jehad Alshrafi)

Ismail al-Thawabta, general director of the Hamas-run government media office, speaks during a press conference at Al-Aqsa Hospital in Deir al-Balah, central Gaza Strip, Monday, July 6, 2026. (AP Photo/Jehad Alshrafi)