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Good evening!
Here is your Money Mail for Friday, June 1.

BUZZ AT THE BELL
Confused investors staged a two-act play Friday.

First, they scrambled to react to confusing reports on
labor conditions and manufacturing. U.S. companies cut
fewer jobs last month than anticipated while activity at
factories slumped further. The manufacturing figures are
roughly in line with other recent factory readings, but the
jobs release is a head-scratcher -- and that's why major
indexes bounced up and down in a tight range much of
Friday.

But sometime after lunch, investors began to bid up key
stocks and the major indexes followed.

The Dow Jones industrial average ended up 78 points at
10,990. The Nasdaq Composite index gained 39 to close out
the week at 2149. The S&P 500 ended up 5 at 1261.

Optimism has resurfaced that perhaps the worst is over for
technology stocks. Intel, Microsoft and Oracle advanced.
Novellus and Flextronics affirmed that their earnings would
fulfill current expectations, and shares of both companies
jumped more than 5 percent. (Sometimes "poor visibility"
turns out okay. Just keep your guard up -- second-quarter
confessionals are starting to roll in.)

Perhaps short-term money should head for the beach and
leave stock picking to the folks looking ahead six to 12
months, or longer. Surely there are bargains ready to pop,
but finding them has never been tougher.

Dean Patterson
Stocks Editor, CNBC.com


MAJOR INDEXES AND VOLUMES

Next button, choose semicolon as your Delimiter, and then
Finish.
* Dow Jones Industrials: 10,990.41, up 78.47 or 0.72%
* Dow Jones Transports: 2,887.05, down 58.85 or 2.00%
* Dow Jones Utilities: 389.52, down 3.70 or 0.94%
* S&P 500: 1,260.67, up 4.85 or 0.39%
* NASDAQ Composite Index: 2,149.44, up 38.95 or 1.85%
* Russell 2000: 501.72, up 5.22 or 1.05%
* FTSE: 5,809.60, down 3.30 or 0.06%
* NIKKEI: 13,261.84, down 0.30 or 0.00%
* Ten-Year Treasury Note Yield: 5.40%

* NYSE volume (preliminary): 1 billion shares
* Nasdaq volume (preliminary): 1.5 billion shares

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

SCOUTING REPORT: MONDAY

Next week's calendar is devoid of economic reports that
will matter five minutes after they hit the tape.
Amazon.com talks to analysts on Tuesday -- keep an eye on
that. And look for a little craziness in small-caps in
coming days. The Russell 2000 index gets its annual reset
on July 1, based on market caps as of May 31. Could be a
little scramble to front-run the indexed fund managers who
have to buy the new kids on the block.

STOCKS
* Amazon's Jungle of Debt, More Upside Seen in Drillers *
Amazon meets with analysts on Tuesday. Can it explain its
balance sheet?
http://www.cnbc.com/010601plotkin-stocks.html?ReferrerID=MM


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MONDAY ON CNBC
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