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Special Market Commentary
Updated 05/21/2010
 
Here is some helpful information from Schwab to help deal with identity theft from "phishers"

Q: How do I recognize a phishing attempt? 
A: Here are a few of their lines and lures: 

  • An email contains the word “urgent” and requests immediate action on an account-related matter. Phishers frequently succeed by getting consumers to act quickly without thinking. 
  • An email with an attachment is sent from a user falsely claiming to be a legitimate company. Unsolicited email attachments more than likely contain viruses. Do not open them. 
  • A pop-up window from a user falsely claiming to be a legitimate company's website asks for personal information. 

Q: How did they get my email address?
A: Your address did not come from Schwab. Phishers collect email addresses from web pages and online bulletin boards and also trade email lists with other spammers.

Q: What if I'm not sure if an email is from Schwab? 
A: Use these criteria:

  • Schwab will never request or disclose a client’s personal information (account number, login password, Social Security number) in a non-secure or unsolicited email communication. We may send an email with a link to one of our Websites, which in turn may require a client to enter personal data (login, etc.) to be authenticated. If your clients have any doubts about a message's origins, they should contact Schwab at 888-3-SCHWAB or visit the site listed by typing it into their browser. They should not click on the link.
  • If clients get emails that warn them, with little or no notice, that their account will be shut down unless they reconfirm their billing information, they should not reply or click on any links. Instead, they should contact Schwab or their advisor immediately. 
  • When clients enter account or personal information on the Schwab website, it will always be protected by a secure Internet connection. 
  • Clients should never give out personal information such as their PIN, Social Security number, date of birth, etc., via email. 

Q: What if I fall for a phishing scam involving my Schwab account?
A: We want clients to have the highest level of confidence when they do business with Schwab. So we offer the Schwab Security Guarantee: Schwab will cover 100% of any losses in any of a client’s Schwab accounts due to unauthorized activity. To ensure clients' protection under this guarantee, it is their responsibility to report any unauthorized transactions to us as quickly as possible. They can do this by calling 888-3-SCHWAB. If your client wants to learn more about Schwab’s Security Guarantee and ways to avoid online fraud, they can visit schwab.com/schwabsafe.

If, after using these criteria, you're in any doubt as to whether an email a client received is legitimate, please contact your relationship manager.

 

Market Update

Nearly Unchanged as GDP Deceleration Concerns Wane
As of 7/30/10 1:15 PM ET

US stocks are mixed but are at arms length with the flatline after opening under pressure following the first look at US 2Q GDP, which showed a slower-than-anticipated rate of growth and a smaller-than-forecasted increase in personal consumption. The equity market pared a large majority of early losses and the Nasdaq has moved into positive territory as better-than-expected reports on consumer sentiment and Midwest manufacturing activity are helping the bulls show some resiliency. Treasuries remain higher after the output report, which also revealed a hotter-than-expected increase in the GDP Price Index, and following a separate report that showed employment costs for 2Q rose inline with economists’ forecasts. US earnings news is taking a back seat to the economic docket, with the calendar relatively light but showing Dow members Merck & Co Inc and Chevron Corp both exceeding the Street’s profit forecasts, but their revenues were light, along with MetLife Inc, while Amgen Inc exceeded analysts’ top and bottom line projections. Overseas, Europe also showed some resilience in the face of some disappointing reports out of the earnings and economic fronts, but finished mostly lower.

 

 

 

 

Schwab Center For Financial Research
Market Analysis Group

© 2009 Charles Schwab & Co., Inc., Member SIPC. All rights reserved. Schwab Center for Financial Research ("SCFR") is a division of Charles Schwab & Co., Inc. The information contained herein is obtained from third-party sources and believed to be reliable, but its accuracy or completeness is not guaranteed. This report is for informational purposes only and is not a solicitation, or a recommendation that any particular investor should purchase or sell any particular security. The investment information mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinions are subject to change without notice in reaction to shifting market conditions.



1 - IB1 Schwab or its affiliates has managed or co-managed a public offering of securities for this company in the past 12 months.
2 - SO2 Schwab and/or its officers own options, rights or warrants to purchase the securities of this company.

 

 

.Fred Endris

This information is intended for clients of Endris Financial Services only and is valid only where Advisor is currently licensed.  This information is NOT a recommendation to buy or sell securities.  Any quoted returns are for past performance only and are not an indication of future performance.  References to returns of the market indexes is presumed to be accurate from an outside source, but is not guaranteed to be accurate. Opinions expressed by the author are dated  and may no longer reflect the author's current position.