To: Frederick Langford who wrote (5535 ) 6/1/2001 7:44:38 AM From: keithcray Respond to of 5732 U.S. Stocks Mixed in Europe, Eyes on Data Jun 1 7:16am ET LONDON (Reuters) - U.S. shares traded mixed in Europe on Friday in low volumes as investors took a cautious view and braced for the key U.S. May employment report due at 1230 GMT. The employment data is expected to show more job losses, as the U.S. economy struggles to pull out of a slowdown that began late last year. "Everybody is waiting for the job data, which looks like being an important set of numbers. People are talking about the highest unemployment rate in three years so that is making people nervous," said one dealer in London. According to a Reuters poll of analysts, the data is expected to show the unemployment rate rising to 4.6 percent from 4.5, non-farm payrolls down 17,000 compared with a fall of 223,000 in the previous month, and average hourly earnings up 0.3 percent from plus 0.4. The Nasdaq June futures contract dipped 12 points to 1,790.0 by 1040 GMT, pointing to a weaker opening for technology shares. The equivalent S&P 500 contract was down 6.0 points to 1,251.3. FuelCell Energy Inc. , a maker of fuel cells for electric power generation, jumped to $77 in European trade from a close of $73.97 after announcing a 2-for-1 stock split. Altera Corp. dipped 30 cents to $23.70 in Europe, having inched up to $24.08 from a close of $24 in after-hours trade. After the official close, the specialty chipmaker warned sales will fall more than it had forecast because earlier of slumping international demand. Semiconductor maker Novellus Systems Inc. edged back from its after-hour highs, but was up $1.1 from its New York close to $49.0. Novellus told investors and analysts in a mid-quarter financial update that the company stood by its prior financial guidance for the June quarter, despite one of the toughest downturns the industry has ever seen. The U.S. National Association of Purchasing Management index, also expected on Friday, will shed light on the nation's manufacturing sector. The NAPM data is due at 1400 GMT. In New York, stocks rose on Thursday after a three-session losing streak for the Nasdaq market, as investors snapped up shares battered by worries about sagging corporate earnings. The Nasdaq composite index climbed 25.99 points or 1.25 percent to end at 2,110.49, after tumbling more than 4 percent on Wednesday. The Dow Jones industrial average <.DJI> was up 39.30 points or 0.36 percent to 10,911.94, after closing more than 1.5 percent lower on Wednesday.