Dow Jones Close 2/27/09 - Stock Market Closing Prices

Stock Market Closing Prices - 2/27/09

Dow Jones Industrial Average ( DJIA ) Close - 7062.93 Down 119.15
Nasdaq Stock Market Close - 1377.84 Down 13.63
S&P 500 Close - 735.10 Down 17.73
http://dowjonesclose.com

Libor Rates - 2/27/09

Commodities Closing Prices - 2/27/09

Gold - 942.60
Oil - 44.35
Natural Gas - 4.21

The Dow Jones Industrial Average closed at 7063 on 2/27/09, as the stock market opened up at new 52 week lows ( except the Nasdaq ) and rebounded throughout the day before falling in the final hour of trading. The Dow Jones Futures opened up the day very weak as details of the Citigroup ( C ) merger with the Government surfaced. Citigroup stock was down 39% to $1.51 at 3pm. Bank Stocks were crushed after a great start to the week. Other problems in the stock market today were the GDP number and the General Electric ( GE ) dividend cut. Fourth Quarter GDP fell to -6.2%. Wall Street expected -5.4% so this loss was greater then expected.

The start of March will come in like a Lion next week as we get the following economic data: 3/2: Personal Income, Personal Spending - 3/3: Auto Sales - 3/4: Fed Beige Book, Crude Oil Inventories - 3/5: Initial Claims - 3/6: Non farm Payrolls ( February Jobs Number ) Unemployment Number, Consumer Credit.

Friday, March 6, 2009 will be a critical day as we get the highly anticipated jobs number. Expect some weakness going into this number and you can bet it will be a huge stock market mover! If you are a stock market fanatic and enjoy trading, i'd suggest calling in sick next Friday!

So where do we stand? We keep breaking new lows and this suggest to me a bottom is not near. Even if we hit the bottom we will test it several times so you will have plenty of time to get back in. I personally don't think a case for the bottom can be made until several months from now. At the end of March the automakers we be asking for more money, in the beginning of April we start to get 1st quarter earnings ( they will be horrible - everyone spent money for Christmas and stopped spending in 2009 ). These are just a few concerns that are ahead. OK, I will stop rambling and tell you that I will have full technical analysis of the stock market over the weekend - Right Here

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