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Good evening!
Here is your Money Mail for Thursday, May 31.

BUZZ AT THE BELL
Bargain hunters made a comeback try today, but all three
major indexes are still down four days out of the past six.
Recall that only a week ago, we toasted the Nasdaq
Composite's sixth straight higher close. That was 200
points ago.

Investors initially bid stocks sharply higher Thursday,
snapping up shares beaten down in Wednesday's selloff. But
their stamina failed before a serious attempt at last
week's summit could be mounted.

Only the Nasdaq Composite managed a significant move. It
climbed 26 points, or 1.3 percent, to 2,111. The Dow Jones
industrial average rose 39 to 10,912 and the Standard &
Poor's 500 edged up 8 points to 1,256 -- fractional
advances for both.

One hitch might have been this morning's report on weekly
unemployment claims. The government says initial jobless
filings rose for a third straight week, while a measure of
ongoing claims hit a seven-and-a-half-year high. Stocks
usually brush off these erratic weekly labor figures. But
it's hard to ignore bad news three weeks straight.

Adding to economic concerns, a survey of Chicago-region
purchasing managers showed factory activity at
recession-esque levels in May. That's another hint recovery
could be further off than any of us would like to think.

But check your portfolio before you get start feeling too
negative. About two-thirds of S&P 500 stocks rose today,
led by those of cellular-phone companies,
photographic-products firms and health care providers.

Among the biggest losers were publishers, insurance
brokers, restaurants and precious-metals miners.

Scott Gerlach
Managing Editor, CNBC.com

MAJOR INDEXES AND VOLUMES
* Dow Jones Industrials: 10,911.94, up 39.30 or 0.36%
* Dow Jones Transports: 2,945.90, up 44.29 or 1.53%
* Dow Jones Utilities: 393.22, up 4.75 or 1.22%
* S&P 500: 1,255.82, up 7.74 or 0.62%
* NASDAQ Composite Index: 2,110.50, up 26.00 or 1.25%
* Russell 2000: 496.50, up 2.54 or 0.51%
* FTSE: 5,812.90, up 9.00 or 0.16%
* NIKKEI: 13,262.14, down 231.21 or 1.71%
* Ten-Year Treasury Note Yield: 5.39%

* NYSE volume (preliminary): 1.1 billion shares
* Nasdaq volume (preliminary): 1.8 billion shares

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

SCOUTING REPORT: FRIDAY
Brace yourself for some bad news. Those weekly jobless
claims figures that have been sliding of late are about to
get backed up by another weak monthly employment report.
Forecasters think the economy lost about 90,000 jobs in
May, and they expect the unemployment rate to tick up to
4.6 percent. These numbers probably are priced into the
market already, so don't expect the bottom to fall out --
unless the forecasts prove optimistic.

ECONOMIC CALENDAR
*Nonfarm payrolls for May, forecast: -90,000.
*Unemployment rate for May, forecast: 4.6 percent.
*Average hourly wage for May, forecast: +0.3 percent.
*NAPM manufacturing index for May, forecast: 43.7.

STOCKS
* Technical Analysis Mailbag *
Given recent bearish action, the Nasdaq and S&P 500 could
see more downside.
http://www.cnbc.com/010531stevens-stocks.html?ReferrerID=MM


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