Oil slick environmental devastation.

Oil from a massive spill in the Gulf of Mexico oozed into Louisiana’s ecologically rich wetlands Friday as storms threatened to frustrate desperate protection efforts.

The explosion of the rig Deepwater Horizon was due to a leak from a blown-out well a mile underwater thus causing the seafloor spill.Swiss-based Transocean Ltd's Deepwater Horizon sank on April 22, two days after it exploded and caught fire while finishing a well for BP Plc about 40 miles southeast of the mouth of the Mississippi River.

The oil slick could become the nation’s worst environmental disaster in decades, threatening to eclipse even the Exxon Valdez in scope. It imperils hundreds of species of fish, birds and other wildlife along the Gulf Coast, one of the world’s richest seafood grounds, teeming with shrimp, oysters and other marine life. Oil swallowed by animals can cause anemia, hemorrhaging and other problems.

The spewing oil — about 210,000 gallons a day — comes from a well drilled by the rig Deepwater Horizon, which exploded in flames April 20 and sank two days later. BP was operating the rig that was owned by Transocean Ltd. The Coast Guard is working with BP to deploy floating booms, skimmers and chemical dispersants, and set controlled fires to burn the oil off the water’s surface.

Monday's Dow is 15 days to index/options futures expiry.
9:30am:--Bullish 60.0 points gap up.The EU & IMF will provide Greece with $146 billion in financial aid.

10:30am:--A slight session high pullback.Personal income and spending data for March in line with consensus.

11:30am:--The ISM Manufacturing Index for April came in at 60.4, which is slightly above the 60.0.Retracement to bull pivot resistance.

12:30noon:--A sudden bout of buying to new session high.

1:30pm:--Shooting stars seen.The tone of trade has been positive all session, despite a lack of help in the early going from overseas markets, many of which were closed.

2:30pm:--A flat session,just hoovering around the high.

3:30pm:--The relative weakness of the materials sector,partially due to the strengthening US dollar.

4:00pm:--A slight pullback towards the closing bell but held strongly near the bullish high.

The opening day of May started off on a bullish note and most likely to spillover on to the next trading day.

The Greek bailout, along with better-than-expected reports on manufacturing and construction spending in the U.S., overshadowed reports that China is boosting its bank reserves to counteract inflationary pressure.