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Friday, December 5, 2008

Dow Jones Close 12/5/08 - Stock Market Closing Prices

Stock Market Closing Prices - 12/05/08

Dow Jones Industrial Average ( DJIA ) Close - 8635.42 Up 259.18
Nasdaq Stock Market Close - 1509.31 Up 63.75
S&P 500 Close - 876 Up 31

Libor Rates - 12/05/08

1 Month - 1.87%
3 Month - 2.19%

Commodities Closing Prices - 12/05/08

Gold - 757
Oil - 41.84
Natural Gas - 5.76

The Dow Jones Industrial Average closed at 8635 on 12/05/08, after a horrible Jobs Report and rising unemployment number were released this morning. The Stock Market Futures sank on this news followed by a retest of the recent lows after stocks opened up for trading today. The Dow Jones bounced off of the 8150 support and has rallied all the way back in the afternoon to positive territory and then exploded even higher to the upside. Truly remarkable trading action today. The stock markets have been going up on horrible news lately, but this action today is a real statement! I will have more technical analysis of the stock market's for Monday, right HERE, over the weekend.

Today's Biggest Gainers - December 5, 2008

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Hartford HIG Stock up 30% 12/05/08

Hartford Financial ( HIG ) is up over 30% in pre market today, 12/5/08, after the company has come out and boosted slashed earnings guidance. HIG stock is up 30.40% to $9.33. If HIG breaks $10 today, you could see $13 in the coming weeks, that is where next resistance is at, but you will need the stock market's to cooperate. I will use a tight stop at $10 if I buy over $10.

Company increases 2008 guidance range to $4.70 to $4.90

Operating businesses continue to perform well in challenging environment, reflecting strong underwriting in P&C Operations and sharpening of focus in Life Operations

Year-end capital outlook for company's Life and Property and Casualty Operations remains strong

Full Article HERE

At its investor meeting today, The Hartford Financial Services Group, Inc. (NYSE: HIG), will discuss the company's operating businesses, financial strength, capital position and investment portfolio, among other items. The event will take place from 9 a.m. to noon EST today and a live audiocast and accompanying slides will be available at

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Art Cashin CNBC 12/05/08 - Jobs Report

Art Cashin of UBS, came on CNBC today, 12/5/08, and gave comments on the Jobs Report and what he is looking for after this number was released.

Art said this looked like the time back in 1973-1974 where we had similar jobs numbers, they took the market down 50% going into the horrible data just like they did over the past year in 2008.

Art Cashin says look for a few things today - look for 8140 support on the Dow Jones, similar to what I am looking for, & 815 as support on the S&P 500. The bulls might face this number, maybe rally strongly, possibly already discounting the news. We will have to see what happens later today.

For all of Art Cashin's comments, go HERE

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November Jobs Report Unemployment 12/05/08

Today, 12/5/08, we are going to be getting the Jobs Report and Unemployment Rate for November. We are also going to be getting Revisions from the October Jobs Report. I will have them posted below as soon as they hit.

Job Loss - November 2008: ( - 533,000 )
October Job Loss Revision: ( - 320,000 )
Unemployment Rate - November 2008: ( 6.7% )

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1 and 3 Month Libor Rates - 12/05/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/5/08, are: 1 Month Libor Rate - 1.87% & 3 Month Libor Rate - 2.19%. The overnight Libor rate is .28%. As you can see, Libor Rates have changed today, December 5, 2008, both 1 month and overnight Libor fell today, a very good sign for the credit markets. The overnight Libor Rate dropped the most!

Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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Dow Jones Futures 12/05/08 - Stock Market

The Dow Jones and Stock Market Futures are flat today, 12/5/08, as we await the highly anticipated Jobs Report. There are a wide range of estimates out there ranging from a loss of 300,000 jobs to as high as a loss of 500,000 jobs. More importantly, I will be watching the revisions from the September Jobs Report because the Government never gets these reports right without revisions. It will be tricky to trade stocks off of this data because its hard to really tell how much of this bad news is already priced in. The Stock Market priced some of this in during the last hour on Thursday. Check out my technical stock charts! Merrill Lynch is out with an oil forecast for $25 Oil. This was the same firm along with Goldman Sachs that was telling you that Oil was going to $200 this fall. These analysts are so useless! I use them as contrary indicators and I think in the coming months we will see a bottom. Oil is $44.34 this morning.

Stock Market Futures - December 5, 2008

Dow Jones Futures - Up 1
Nasdaq Futures - Down 3
S&P 500 Futures - Up .50

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