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To: Teri Garner who wrote (14673)	9/7/2001 8:32:24 AM
From: Sully-	Respond to of 208838

* 08:31 ET Economic Data : Nonfarm payrolls fell 113K in August vs the -45 consensus, but the most important number in this report will be the 4.9% unemployment rate, which was much higher than the 4.6% consensus. An upward revision to +13K on July payrolls from -42K is a slight offset, but the big uptick in the unemployment rate will put pressure on the market.

To: Teri Garner who wrote (14673)	9/7/2001 8:34:57 AM
From: 2MAR$	Read Replies (2) \| Respond to of 208838

Oops futs ---Plop . MARKET TALK: Jobs Data Worse Than Expected Edited by Raymond Hennessey Of DOW JONES NEWSWIRES (Call Us: 201 938-5299; All Times Eastern) MARKET TALK can be found using code N/DJMT 8:34 (Dow Jones) Payrolls fell by 113,000 in August, much more than expected due to a 141,000 loss of manufacturing jobs. The unemployment rate soared to 4.9% from 4.5%. There was an upward revision to payrolls for July (from -42,000 to +13,000) but the sharp rise in the unemployment rate casts doubt over the accuracy of the July surveys. (JM) 8:29 (Dow Jones) No news is good news for Intel (INTC), but the overall market unfortunately has to absorb more than just Intel, such as Motorola's (MOT) job cuts/warning and the soon-to-arrive unemployment report. A DJN-CNBC survey forecasts a 40,000 decline in U.S. nonfarm payrolls, a 4.7% jobless rate and 0.3% rise in average earnings. Lately, the market has interpreted everything as half-empty. Since the intraday highs on Aug. 27 - just two Mondays ago - the DJIA has lost 5.7% and the Nasdaq 11.8%. Ouch. Futures up ahead of data. Asia plunged again. Europe sliding. Treasurys rising. Dollar steady. Finally, enjoy retirement, Jack Welch. (GS) (END) DOW JONES NEWS 09-07-01 08:34 AM * end of story *