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Good evening!
Here is your Money Mail for Wednesday, June 6.

BUZZ AT THE BELL
A day after upbeat profit forecasts lifted stocks, a couple
of earnings warnings knocked them back down. J.P. Morgan
Chase and Hewlett-Packard -- two members of the Dow Jones
industrials -- both projected difficult business conditions
in the quarters ahead.

J.P Morgan Chase fell 3.4 percent after warning of lower
trading revenue, and H-P shares dipped 4.5 percent after
the company said the global technology slowdown could
persist for some time. Other financial and computer stocks
fell in sympathy.

Their losses helped drag the Dow down 106, or 0.9 percent,
to 11,070. More broadly, the Nasdaq Composite fell 16 to
2,218 and the Standard & Poor's 500 slipped 14 to 1,270.

Energy stocks lost ground thanks to news that U.S.
inventories of crude oil and gasoline rose sharply in the
latest week. The weekly update from the American Petroleum
Institute showed a 3.4-million-barrel increase in crude
stocks and led prices of both gas and oil lower.

Exxon-Mobil shares fell 2.3 percent to 89.40, accounting
for about 13 Dow index points. Oil drillers, natural-gas
producers and refiners all saw their share prices decline.

Fewer than a third of S&P industry groups posted gains
Wednesday, and those that rose generally advanced 2 percent
or less. Health care companies, defense stocks,
consumer-products makers and electronics retailers did best.

Scott Gerlach
Managing Editor, CNBC.com


MAJOR INDEXES AND VOLUMES
* Dow Jones Industrials: 11,070.24, down 105.60 or 0.94%
* Dow Jones Transports: 2,898.39, down 19.03 or 0.65%
* Dow Jones Utilities: 372.65, down 9.06 or 2.37%
* S&P 500: 1,270.03, down 13.54 or 1.05%
* NASDAQ Composite Index: 2,217.73, down 15.93 or 0.71%
* Russell 2000: 512.58, down 3.90 or 0.76%
* FTSE: 5,920.00, up 437.70 or 7.98%
* NIKKEI: 13,174.84, down 7.16 or 0.05%
* Ten-Year Treasury Note Yield: 5.28, down 0.01 or 0.19%

* NYSE volume (preliminary): 1.06 billion shares
* Nasdaq volume (preliminary): 1.76 billion shares

* To see our complete U.S. index list,
http://www.cnbc.com/news/markets/world.html?ReferrerID=MM


SCOUTING REPORT: THURSDAY
Consumer credit, jobless claims, wholesale inventories.
Think you can find trading inspiration in any of these
economic reports? Probably not. Just keep your eyes peeled
for profit warnings -- second-quarter confessions have only
just begun.


ECONOMIC CALENDAR:
*Consumer credit for April, forecast: +$10 billion
*Weekly jobless claims, forecast: 430,000
*Wholesale inventories for April, forecast: -0.1 percent


STOCKS
* Envision the Tech Rebound *
Investors should worry more about predicting the evolution
of tech than market timing.
http://www.cnbc.com/010606plotkin-stocks.html?ReferrerID=MM

* Stevens on Technical Analysis *
The stock market still has a bullish technical outlook.
Uptrend appears still intact.
http://www.cnbc.com/010606stevens-stocks.html?ReferrerID=MM


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