4 June 2001, 09:50  Positives are lacking in the U.S.

Positives are lacking in the U.S. stock market and the odds ahead call for more bad news than good news, yet many dealers think there's little downside risk left. The domestic economy is ailing with a new threat emerging of a second inventory imbalance. Wages are rising, especially relative to weakened production, and higher energy costs are threatening the summer. Worst of all, the warning season is simmering as quarter-end June 30 approaches. Friday's Dow industrials ended up 78.47 points, 0.72%, to close at 10,990.41. The Nasdaq composite finished up 1.85%, 38.95 points, at 2149.44. The S&P 500 was up 0.39%, 4.85 points, at 1260.67.

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