Stock Market Commentary for Friday, June 3, 2005

The market remains in an incremental bull mode, scoring medium-size gains in the face of a lack of overwhelming news.  Nasdaq rose a moderate 9.94 points.

The good news was that Nasdaq opened with some negative sentiment and managed to turn it around and recover through the rest of the day.  The open was in fact the low for the day.  This is a good sign.

Nasdaq is now just a small hop short of the psychological 2,100 level.

The economic data continues to be mixed and so-so.

Stock mutual fund inflows continue, for a second week, but are still rather lean.

Nasdaq trading volume was moderate (1.82 billion shares), and breadth was modestly positive, with 1.13 gainers for each loser.  This was not a strong rally.

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-- Jack Krupansky