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Good evening!
Here is your Money Mail for Wednesday, May 30.

BUZZ AT THE BELL
Technology stocks, including Sun Microsystems, led most
other stocks on a mass march to the downside on Wednesday.
Profit warnings, coupled with thin trading and a lack of
buyers, caused most industry groups and shares to decline.

Investors are beginning to question the widely held view
that economic growth and corporate profits are poised to
rebound by the second half of this year, analysts say.

The Nasdaq Composite Index ended down 91 points, or 4.2
percent, to 2085. The Standard & Poor's 500 Index fell 20
points, or 1.6 percent, to 1248. The Dow Jones industrial
average lost 167, or 1.5 percent, to 10,872.

The focal point of the trading day was Sun.

Sun closed down 13.8 percent at 16.10. The maker of
computer servers warned that its earnings in its fourth
quarter will be less than previously expected. It said
customers are buying less than anticipated, citing Europe
as particularly weak. The news hurt other tech companies.
Cisco, Oracle, IBM, and others also fell.

The most troubling aspect of the sell off was it touched
almost every corner of the market. Energy was the only
major industry group that managed to post a gain, which was
minimal.

Some analysts say investors should take the long-term view
when investing this summer.

Dean Patterson
Stocks Editor, Money Mail


MAJOR INDEXES AND VOLUMES
* Dow Jones Industrials: 10,872.45, down 166.69 or 1.51%
* Dow Jones Transports: 2,901.61, down 19.66 or 0.67%
* Dow Jones Utilities: 388.47, up 0.64 or 0.17%
* S&P 500: 1,248.08, down 19.85 or 1.57%
* NASDAQ Composite Index: 2,084.50, down 91.04 or 4.18%
* Russell 2000: 493.96, down 8.41 or 1.67%
* FTSE: 5,803.90, down 60.00 or 1.02%
* NIKKEI: 13,493.35, down 280.54 or 2.04%
* Ten-Year Treasury Note Yield: 5.51%, up 0.03 or 0.55%

* NYSE volume (preliminary): 1.15 billion shares
* Nasdaq volume (preliminary): 1.96 billion shares

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


SCOUTING REPORT: THURSDAY
The long wait for marguee economic data continues Thursday.
With the May jobs report looming on Friday, the help-wanted
index and Chicago purchasing managers' index should have
little impact. Earnings are nearly done but early warnings
are possible from here on out. In thin trading, funny
things can happen.


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