Morning Call by Knowledge to Action

The DOW traded higher at the open up to the 12500 level but fell back to close the session down 12 points just below the 12400 level, a break of the recent lows at 12350 to spark a larger decline. The S&P closed flat, NASDAQ ended the session up 22 points. The FTSE 100 gapped lower at the open and continued to trade lower for most of the session before putting in a small rally at the close to end the day down 87 points. Futures - DOW is called up 5 points, FTSE is called down 15 points. Oil is trading at $121.88 a barrel and gold at $879.50.