Dow Jones Close 11/05/08 - Stock Market Report

Stock Market Closing Prices - 11/05/08

Dow Jones Industrial Average ( DJIA ) Close - 9139.27 Down 486
Nasdaq Stock Market Close - 1682 Down 98
S&P 500 Close - 953 Down 53

Libor Rates - 11/05/08

1 Month - 1.96%
3 Month - 2.51%

Commodities Closing Prices - 11/05/08

Gold - 740
Oil - 65.32
Natural Gas - 7.24

The Dow Jones Industrial Average closed at 9139 on 11/05/08, as investors woke up to a new President and a reality check that our Economy is very bad right now. The ADP Employment figure came out this morning and it was horrible, reducing US payrolls by 157,000. The Jobs Number on Friday will be even worse! First we need to get past tomorrow's Retail Sales number which is going to be ugly! Starting to get the picture? We had a great rally, but things are still grim out there, you have to be cautious! Check out the Dow Jones Chart that I made today and the price points that I am watching for the Dow. Let us all hope 9000 holds when we test it again, unless you are short of coarse!
The Stock Market Futures were down slightly this morning, The Dow Jones futures were only down 70 points in pre market trading but selling quickly hit the market when stocks opened. The Dow Jones was pretty much down around 300 during the afternoon hours and it got worse in the last hour. Steel Stocks and Technology Stocks were very weak today, especially Apple ( AAPL ), Google ( GOOG ), and Amazon.com ( AMZN ). The Solar Stocks such as First Solar ( FSLR ) and Energy Conversion Devices ( ENER ) were weak today after going up all week long. Meredith Whitney came on CNBC at 3:30pm and gave some comments on the Financial Stocks, this really hit the market hard during her talk on the closing bell. Her comments are a must read!

Biggest Stock Gainers - November 5th, 2008

The hottest stock today was Radian Group ( RDN ). This company came out with some nice earnings which caused the stock to spike higher.

Chesapeake Energy ( CHK ) was outstanding today. There are rumors that BP is looking at the company as far as a buyout. This sent shares of Chesapeake Energy up 16% at one point. CHK was strong all day with heavy volume. Major pullbacks should be bought if you get them. I see $30's in the near future unless the market tanks again.

How about Jim Cramer's call on MasterCard ( MA ) yesterday, only 24 hours left to go Jim!

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