2011/5/6

Market: consolidation on Wall Street, falling oil prices

All bubbles, even play money supplied by the Fed, eventually one day burst.
This trading session ended with a fairly unspectacular consolidation on Wall Street ... but it is not that the operators retain this May 5
At almost a year apart to the day, a "flash crash" devastated-not the U.S. stock indices, but the raw materials sector, with a dip of -10% of oil (up to $ 98.3 on the NYMEX) and -13% of the silver metal (or a real crash of -30% in 4 sessions between 49 and 34.5 U.S. dollars).
Battalions of speculators have been "tear" as ever in 30 years, and even more violently than the amount of "deposit" was observed by 2 times in 4 days on the silver on the CME (Chicago Mercantile Exchange) .
The commodity indexes suffered one of the heaviest correction of the decade in a single session: to -5% (-4.9% in the final).
The "leverage effect" has had a devastating effect on Thursday: the "de-leveraging" has resulted in the "panic selling" on the part of operators exposed too ... which eventually contaminate Wall Street late in the session with the Dow Jones has lost up-200Pts (including 120Pts-in half an hour shortly after 8:45 p.m.) before the limit break in the last quarter of hour.
The S & P "lost -1.3% to 0.9% in the final yield and the Nasdaq, less involved in the" commodities "sold only -0.48% to 2.815Pts.
Unsurprisingly, and for the third straight session, the oil services collectively fell from -3% (EXXON backed off from -2.5% -2% of Chevron).
Symmetrically, the airlines have flown with the sudden drop in fuel prices: American Airlines has garnered +7.5% +7.1% Delta, Continental +5.7%.
The Nasdaq was supported by Electronic Arts (+8.8%) and JDS Uniphase (+6.9%) and to a lesser extent by Akamai +2.4%, +1.7% Micron, Flextronics 1.5 % ... and Intel, one of only three titles on the rise in the Dow Jones +0.5%.
Side setbacks, the manufacturer of mining equipment Joy Global has lost -5.2%, -4.4% Verisign, Marvell and Broadcom -2.9%, -1.7% Paychex, -1.6% Oracle, Symantec - 1.5%.