Charles Schwab & Co., Inc.

Morning Market View(TM) for Wednesday, June 6, 2001
as of 11:00AM EDT
Information provided by Standard & Poor's

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U.S. INDICES
(11:00a.m. EDT)

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Market            Value     Change

DJIA          11,145.30    - 30.50
Nasdaq Comp.   2,232.65     - 1.01
S&P 500        1,276.17     - 7.40
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NYSE Advancing Issues        1,043
NYSE Declining Issues        1,620
NYSE Trading Volume        287 mln
NASDAQ Advancing Issues      1,364
NASDAQ Declining Issues      1,805
NASDAQ Trading Volume      574 mln

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U.S. TREASURIES
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Value            Yield      Change

1-year bill       3.57%        n/a
5-year note       4.84%     - 4/32
10-year note      5.30%     - 7/32
30-year bond      5.66%     - 3/32

The tables above look best when viewed in a fixed-width font,
such as "Courier."

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U.S. TRADING SUMMARY

The headline indices have chopped around both sides of unchanged
levels this morning as concerns over upcoming earnings reports
and continued uncertainty over the outlook for the domestic
economy pull traders in many directions. Throw in a bias toward
profit-taking in the wake of the recent gains in the headline
indices and it is not surprising that stocks have been volatile
this morning. Oil, financial and banking stocks are among the
worst-performing sectors. Meanwhile, computer systems, computer
software and household products have managed to make some headway
in today's volatile market.

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JAPAN / EUROPE SUMMARY

European stock market indices have moved lower with the U.S.
indexes. The German Dax has fallen 0.5%, while the French CAC-40
dipped 0.3% as both indexes reversed earlier gains. The London
FTSE has managed to hold around unchanged levels. Note that the
Bank of England matched market expectations by announcing that it
left short-term interest rates unchanged at its most recent
policy meeting. Elsewhere, gains in the downtrodden banking
sector were more than offset by weakness in technology issues as
the Nikkei-225 erased its early gains and moved into the red by
the close. For the day, the Nikkei-225 dropped about 0.1% while
the broader Topix remained unchanged.

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CURRENCY SUMMARY

Concerns over the Japanese economy, alongside comments from a
Japanese official, have kept the yen under pressure. Of course,
this is to the dollar's advantage, as the greenback is holding
above the 120 yen level. The euro has been slapped lower to below
0.850 dollars per euro, as traders take profits on an early run
higher to 0.855 dollars.

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MAJOR COMPANY / INDUSTRY NEWS
(All prices as of 11:05 a.m. EDT)

** The $8 billion merger between DuPont's (DD: 47.15, + 0.45)
pharmaceutical division and Bristol-Myers Squibb (BMY: 57.42, -
0.49) has moved one step closer to reality, according to The Wall
Street Journal. Citing unnamed sources, the Journal reported that
DuPont agreed to exclusive negotiations with Bristol-Myers in
order to quickly move the deal forward. DuPont has authorized the
transaction if both companies can agree to terms, but many
hurdles still remain that could thwart the takeover. DuPont's
pharmaceutical division's main drugs include medicines targeting
blood clots, HIV and Parkinson's disease.

** Advanced Micro Devices (AMD: 29.18, + 0.28) expects to
increase revenues despite the current slowdown in the
semiconductor sector, according to a news conference given by
AMD's Chief Operating Officer Hector Ruiz. Despite sector growth
contraction of 15%, AMD expects to increase its business as it
expands its market share. The COO also stated that signs have
emerged that may signal a pickup in global personal computer
demand in the fourth quarter of this year. However, Ruiz was less
optimistic about semiconductor demand for the beleaguered
communications sector.

** President Bush called for an investigation into the alleged
dumping of foreign-produced steel in the U.S. The move by the
president has the potential to bring about restrictions on
foreign steel producers. Under Section 201 of the 1974 Trade Act,
the president may ask the International Trade Commission to
investigate whether or not imported steel is hurting U.S.
domestic production. The commission has six months to issue
recommendations that the president could accept, reject or
modify. Penalties could include increased tariffs on imports,
quotas limiting the affected imports or a combination of both.
The move, which comes on the heels of the Democratic takeover of
the U.S. Senate, could help the president curry favor with some
in the Democratic Party.

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ECONOMIC NEWS

** No data today.

** THURSDAY - Weekly initial jobless claims, wholesale trade for
April, consumer credit for April.

** FRIDAY - No data.

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