Dow Jones Open 11/05/08 - Stock Market Today

The Dow Jones Industrial Average ( DJIA ) and Stock Market opened today 11/05/08, the day after the US elected Barack Obama the 44th President, sharply lower. The Dow Jones opened the trading session down 150 points to 9475, The Nasdaq opened down 24 to 1755, and the S&P 500 average opened up lower by 15 to 990.
The ADP employment report gave a dose of reality to the stock markets today, down over 150,000. This paints a grim picture of what the nonfarm payrolls report could look like on Friday, November 7th, 2008. Keep an eye on the S&P 500 targets from Art Cashin last week.

The Steel stocks are very weak today after Archelor Mittal Steel gave horrible guidance for what steel prices will do in the future. These Steel Stocks are very weak today, MT, US Steel ( X ), Nucor ( NUE ). Keep an eye on the steel sector.

Biggest Gainers 11/05/08 - Hot Stocks

Chesapeake Energy ( CHK ) - I can't help but mention this stock first, it is breaking out hard to the upside with strong volume this morning. As I mentioned in my technical analysis, you get a CHK close over $25 you could be looking at a huge rip higher in stock price. Watch this stock! The CEO could be buying his shares back that he was forced to dump!

Radian Group RDN is breaking out on positive earnings, this is the hottest stock today.

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