The indices downward trend for the day isn’t great, it was actually swinging between positive and negative area along the day. It is still too early to see any change in euphoria due to the perception that the sub prime crisis may be over.
Energy Department’s report of an unexpected jump in gasoline demand in turn caused oil prices to rise. This has the potential of further increasing inflation which weighs down on the stocks. But I would say this is just a slight dip given yesterday’s 400 points rise. It can be due to traders taking profits because of uncertainty.