Rally on Wall Street finally stopped?

Nurul Qomariyah - detikFinance 
York-MAKE MONEY BLOG$- Wall Stret end the reinforcement that has been going on for3 days in a row. Investors are still cautious to respond todevelopments in Japan and also Libya.
In trading Tuesday (22/03/2011), the Dow Jones fell 17.90 points(0.15%) to the level 12018.63. The broader Standard & Poor's 500 index also fell 4.61 points (0.36%) to a level of 1293.77 and theNasdaq fell 8.22 points (0.31%) to a level of 2683.87.


The weakening stock indices occur in very thin trading volume,even the lowest so far this year. Transactions trading on the NewYork Stock Exchange only as much as 6.52 billion shares, below the daily average of 8.09 billion.

Warming of the situation in Libya and demonstrations in Yemenhas contributed to rising crude oil prices. Light sweet crude rose1.67 dollars recorded a U.S. $ 104 per barrel, Brent oil rose 74cents to U.S. $ 115.70 per barrel.

"What remains bullish while trying to buy down and take advantage of the prices from the middle of last week. But as far as the momentum increases, I do not think there's more. So now is wait and see attitude and not much commitment from the other side atthis point, "said Terry Morris, senior analyst at the National PennInvestors Trust Company, as quoted by Reuters on Wednesday(03/23/2011).

According to the latest report from EPFR Global capital flowsturned into defensive sectors following the crisis in Japan. The biggest flow of funds is now oriented toward consumer goods, telecommunications and health sectors.

(Qom / Qom)

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