Dow Jones Open - Stock Market 10/30/08 - Opening Prices

The Dow Jones and Stock Markets are opening a lot higher today, 10/30/08. The Dow Jones open up 200 points to 9200 and briefly traded to the 9263 level. The Nasdaq is up 45 points to 1702. This morning, The GDP reading for the 3rd quarter came out and it was down 0.3%. Wall Street was expecting down 0.6% so this was viewed as positive. Keep in mind, these economic numbers are backward looking and for the most part, Wall Street has them priced in. You might want to check out comments by Bill Ackman & Art Cashin from this morning. They provide valuable insight on the stock market! Remember what I said about the QQQQ crossing $30.25? We never looked back and the QQQQ now trades at $32.75. Oh, I almost forgot, Libor Rates tanked this morning, this is another key reason stocks are up big today.

Stocks to Watch 10/30/08:

Las Vegas Sands ( LVS ) is at it again, LVS stock hit $12.75 this morning but has since retreated back to $11.50. I am going to let this stock settle for a few days and then re evaluate again. It has gone up almost 300% in two trading sessions. Earnings also come out next week, not to mention, we have an Election and the Jobs number.

Other Big Movers today are GKK, OMX, VSE, POT, FSLR. Check out the following website for the biggest stock gainers today. http://www.blackberrystocks.com/hotstocks.html

As always, visit my homepage for the latest blog postings.

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