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Charles Schwab=09 Dear Investor: Did you know there's a simpler way to monitor the market? = Experience the advantage of having market information delivered to you firs= t thing in the morning. Scheduled to arrive in your inbox within the first = half-hour of market open, the Morning Market View? provides you with an ear= ly glimpse into the day's market activity, helping you: Quickly assess ma= jor market movements, changes in economic indicators, and other breaking ne= ws that may impact your holdings. Get a jumpstart on the market - receiving= information within the first hour of the market's opening. See how the mar= ket and your investments are performing. Join hundreds of thousands of oth= er Charles Schwab customers who receive timely market information delivered= right to their email inboxes. Please see below to view a sample of the Mor= ning Market View Email Alert. To Begin Receiving Morning Market View Simpl= y Click Here Please review the terms of use in the Email Alerts Notificat= ion at the end of this sample. If you would prefer to receive only account= service emails, please reply to this email indicating your preference. Pl= ease note: doing so will not remove you from any Schwab Email Alerts or ema= il newsletters or information to which you have already subscribed. SAM= PLE =09 =20 Charles Schwab [IMAGE] Morning Market View Email Alert [IMAGE] For Friday= , August 24, 2001 as of 9:30AM EDT Information provided by Schwab Center f= or Investment Research Login Also In This Issue: Treasury and Ec= onomic Summary World Markets Futures Watch QUICK QUOTE Plea= se Enter Stock Symbol: MARKETS LOOK TO START FRIDAY IN THE GREEN = Equity index futures are off of earlier highs, but still remain firmly to t= he upside. Positive developments in the technology sector are lifting inves= tors' spirits this morning, despite weaker-than-expected durable goods orde= rs data. Durable goods data released by the Commerce Department suggest co= ntinued weakness in the U.S. economy. The weaker-than-expected numbers were= the lowest since 1998 and would have been worse were it not for a pickup i= n orders for cars. Technology shares are likely to open higher today after= Cisco Systems (CSCO,16.76f1) CEO John Chambers reported that the first few= weeks of the quarter are meeting the company's forecasts and that he was "= pleased so far with August." Chambers hinted that business conditions are s= tabilizing, even though the company had previously said that it expected sa= les to be unchanged to down 5% for the quarter. The company also reported t= hat it would restructure and centralize its operations as it eliminates thr= ee of its telecommunications divisions. Additionally, the chief of telecomm= unications-products is resigning. Software issues could also get a boost a= fter Microsoft Corp. (MSFT,59f1) said that it has completed its new Windows= XP operating system and will present the final version to computer manufac= turers on Friday, even as the company grapples with anti-trust concerns in = the courts and relentless adversarial pressure to implement changes in the = product. Telecommunications equipment maker ADC Telecom (ADCT,4.27f1) repo= rted a 3Q pro-forma loss of $0.05/share, $0.01 better than the First Call c= onsensus estimate, on a 39% decrease in sales. The company warned that it e= xpects a 4Q pro-forma loss of $0.03 per share, $0.01 lower than analysts' e= stimates, and failed to provide fiscal 2002 earnings per share guidance due= to uncertainty surrounding the economic slowdown and market conditions. R= eturn to TOP TREASURY AND ECONOMIC SUMMARY Bonds, which appear to b= e taking cues from the stock market, had a muted reaction to the durable go= ods orders release this morning, rising just slightly off of morning lows a= s the volatility-plagued numbers suggest continued economic weakness. Accor= ding to the Commerce Department, total orders for July declined 0.6% to $18= 2 billion, worse than the Dow Jones Newswires forecast of $183 billion. Jun= e's numbers were revised much lower, down 2.6% from the previously reported= 1.7% decline. Excluding transportation, orders fell 1.4%. Orders for autos= and auto-parts rose 3.8% and communications orders rose 18.3%, while semic= onductor orders dropped 26%. Return to TOP WORLD MARKETS European = markets were trading firmly in positive territory after a German Consumer P= rice Index report indicated that import and factory orders prices fell more= than expected in August as oil and food prices dropped. Inflationary press= ures in the euro-zone continue to abate, fueling speculation that the Europ= ean Central Bank will cut interest rates at next Thursday's policy meeting.= The Bloomberg European 500 Index was up 1.03% as of 8:54 a.m. EDT with tel= ecommunication services stocks leading the way, buoyed by Cisco's upbeat re= port. The euro was weaker against the U.S. dollar, as traders booked profit= s going into the weekend on light volume in front of the UK's banking holid= ay on Monday. Asian markets were mixed, with Japan's Nikkei-225 Index clos= ing up 0.35% as bargain-hunters sought attractive technology stocks, which = reversed earlier losses following the Cisco news. The dollar climbed agains= t the yen, and crude oil prices increased slightly as refinery outages in t= he U.S. exacerbated concerns about lower inventory levels overall. Return = to TOP FUTURES WATCH In the September Globex futures contract as of= 8:54 a.m. EDT, the S&P 500 Index was up 5 points, or 4 points above fair v= alue, while the Nasdaq 100 Index was up 23 points, or 24 points above fair = value. The September DJIA futures contract was higher by 31 points, or 32 p= oints above fair value, and the October crude oil futures traded on the NYM= EX were up $0.02 at $26.65/barrel. William Johnson, Market Analyst Return= to TOP Notice: All email sent to or from the Charles Schwab corporate= email system may be retained, monitored and/or reviewed by Schwab personne= l. (0801-11482) Charles Schwab & Co., Inc. ("Schwab") is a member of the N= YSE, other major U.S. Securities Exchanges, and SIPC. Schwab is a specialis= t in various securities on the Pacific, Boston and Cincinnati Stock Exchang= es and is subsidiary of The Charles Schwab Corporation, which is listed on = the NYSE and trades under the symbol "SCH". Schwab Capital Markets L.P. is = a member of the NASD and SIPC. Schwab Capital Markets L.P. is also a subsi= diary of The Charles Schwab Corporation and is a market maker in approximat= ely 4,900 securities. Schwab Center for Investment Research ("SCIR") is pa= rt of Charles Schwab & Co., Inc. The information contained herein is obtain= ed from sources believed to be reliable, but its accuracy or completeness i= s not guaranteed. This report is for informational purposes only and is not= a solicitation, or a recommendation that any particular investor should pu= rchase or sell any particular security. Schwab does not assess the suitabil= ity or the potential value of any particular investment. All expressions of= opinions are subject to change without notice. The Charles Schwab Corpora= tion, Schwab, Schwab Capital Markets L.P. and its officers, directors, empl= oyees, consultants and/or members of their families may have a position in,= and may from time to time, purchase or sell any of the mentioned or relate= d securities including derivatives in such securities. At any given time, S= chwab specialists, or Schwab Capital Markets L.P. market makers, may have a= n inventory position, either "long" or "short" in any security mentioned in= this report as a result of their specialist/market making functions, respe= ctively. Additionally, Schwab or Schwab Capital Markets L.P. may be on the= opposite side of orders executed on the floor of the Pacific, Boston and/o= r Cincinnati Stock Exchanges or over-the-counter market respectively, as we= ll. Schwab (or persons related thereto) or consultants may perform or solic= it investment banking or other business from any company mentioned in this = report. ?2001 Charles Schwab & Co., Inc. Schwab Capital Markets L.P. makes= a market in this security. Schwab is a specialist in this security. Schwab= has managed or co-managed a public offering in this security within the la= st three years. An employee of Schwab is a Director of this company. An ana= lyst covering this stock has an investment position. Commercial use or red= istribution in any form, print or electronic, is prohibited. Distribution = by Quris, Inc. Schwab Email Alerts Notification Use of Email Alerts is g= overned by the terms and conditions in the Electronic Services Agreement t= o which you have previously agreed. Email Alerts are also subject to certa= in limitations and requirements that are described here and at the time you= subscribe to a particular Email Alert. Your subscription or use of any Ema= il Alert will serve as an acknowledgment that you have read and understood = the applicable limitations and conditions. The information in Email Alerts= may be prepared and delivered by third parties ("Information Providers") t= hat are independent of Charles Schwab & Co., Inc. and its affiliates (colle= ctively "Schwab"). The information may be delayed. Neither Schwab nor any I= nformation Provider guarantees the accuracy, completeness, or timeliness of= information available through Email Alerts. Reliability of your receipt of= Email Alerts and their timeliness will also depend on factors outside of S= chwab's control, including Internet, email, and pager service availability = and transmission capabilities. Email Alerts are not investment recommenda= tions or advice. Any investment decision you make on the basis of Email Ale= rts is your sole responsibility. Email Alerts are sent through unencrypted = email, and neither Schwab nor any Information Provider is liable for any un= authorized use or interception. If you subscribe to Email Alerts, you ackno= wledge that you have read and understood this notification. At Schwab, yo= ur privacy is important to us. For information about Schwab's privacy polic= y, please click here . Notice: All email sent to or from Charles Schwab co= rporate email system may be retained, monitored and/or reviewed by Schwab p= ersonnel. ?2001 Charles Schwab & Co., Inc. All rights reserved. Member SI= PC/NYSE (0901-11505) =09 [IMAGE]
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