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To: Johnny Canuck who wrote (32586)	6/1/2001 12:43:46 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70600

08:36 ET Employment Report : Employment data are a non-event; the numbers were certainly not as bad as April's but they are volatile from month to month and still suggest a significant recession risk. Have seen some improvement in opening indications as worst fears aren't realized: S&P futures 3.2 pts below fair value and Nasdaq 100 pre-market indicator +2. 08:32 ET Employment Report : Nonfarm payrolls fell 19K in May, close to the consensus of -25K and April revised slightly higher to -182K from -223K; unemployment rate fell a tenth to 4.4% vs 4.6% consensus; hourly earnings rose 0.3% - in line with consensus. Numbers offer few surprises and will have little market impact. 08:27 ET Redback Ntwrks (RBAK) 14.44: Morgan Stanley ups price target to $25 from $20; says that stock has discounted negative news and that positive news flow is likely with: SMS business recovering as DSL deployments continue, Smart Edge driving margins up by Q4, and increased company visibility at Supercomm next week; Morgan sees 75% upside potential vs 15% downside.