Dow Jones Close 10/27/08 - Stock Market Closing Prices, Libor Rates, Oil, Gold

Stock Market Closing Prices - 10/27/08

Dow Jones Industrial Average ( DJIA ) Close - 8176 - Down 203
Nasdaq Stock Market Close - 1506 - Down 46
S&P 500 Close - 849 - Down 28

Libor Rates - 10/27/08
1 Month - 3.22%
3 Month - 3.51%

Commodities Closing Prices - 10/27/08

Gold - 737
Oil - 62.15
Natural Gas - 6.13

The Dow Jones Industrial Average closed at 8176, down 203, on 10/27/08, as investors dealt with another Asian stock market crash overnight by the Nikkei and the Hang Seng. The Stock
Market Futures were down big this morning, The Dow Jones futures were actually down 350 at one point but Bill Gross came on CNBC and told viewers that Libor rates will soon fall. The
Markets rallied today from 12-2pm with the Dow Jones up 220 points at one point. This all changed in a vicious sell off from 2pm - 3pm Eastern time followed by another sell off with a few minutes left in the trading day. There is been no bad news out, just a lack of buyers and a lot of sellers. Be very careful, we closed below a key technical level on the Dow today as I was explaining last week. All eyes will be back on the Nikkei and Hang Seng tonight as those markets react to our trading.

Cannon slashed profit estimates last night in Asia by 25% and more selling could hit those stock markets overnight which would effect our stock markets for Tuesday, 10/28/08. Will stocks go up tomorrow? Something tells me the Asian markets will rebound tonight and that could send our stock markets up alot higher for Tuesday 10/28/08. Be careful though, we have a Fed Interest Rate decision tomorrow and I believe a half point rate cut is already priced into stocks right now. We get the decision at 2:15pm est. Be sure to check out my blog later tonight for a futures update.

General Motors ( GM ) Close - $5.21

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