Morning Call by Knowledge to Action

The DOW broke to the downside of the consolidation on Friday as investors turned cautious on equities due to concerns about the outlook for U.S. banks and the impact of higher oil prices on consumers spending and inflation. The DOW ended the session down 220 points. The S&P fell 24 points and the NASDAQ lost 55 points. The FTSE 100 fell 86 points on Friday with banks among the top fallers following rumours of a profit warning from Merrill Lynch. Futures - DOW is called up 40 points, FTSE is called up 15 points. Oil is trading at $136.23 a barrel and gold at $907.80.