Dow Jones Close 2/3/09 - Stock Market Closing Prices

Stock Market Closing Prices - 2/3/09

Dow Jones Industrial Average ( DJIA ) Close - 8078.36 Up 141.53
Nasdaq Stock Market Close - 1516.30 Up 21.87
S&P 500 Close - 838.50 Up 13.06
http://dowjonesclose.com

Libor Rates - 2/03/09

1 Month - 0.445%
3 Month - 1.234%

Commodities Closing Prices - 2/3/09

Gold - 900
Oil - 40.91
Natural Gas - 4.53

The Dow Jones Industrial Average closed at 8078 on 2/3/09, as the stock market went up today due to a weak dollar, a Tom Daschle resignation, Timothy Geithner comments, and the fact that technically, we were oversold. The Nasdaq shook off the San Disk news and built on yesterday's gains. The weak dollar was also good for the oil market as oil broke out of a tight range and went through $41 in afternoon trading. This something to watch closely. I personally like to own the USO when I think oil prices are headed higher and I have a nice position in that stock right now. I will be watching the oil supply report out tomorrow to see if oil supplies increased from last week. Any better then expected oil data could really make oil prices spike higher. Timothy Geithner is out stating that when dealing with the current banking crisis, he will be keeping Japan's mistakes in mind. This could be the main reason stocks are surging this afternoon.

Auto Sales - February 3, 2009

The US auto makers reported horrible auto sales today. General Motors ( GM ) January sales were down 50.8% and Ford's ( F ) sales were down 42.5%. Despite the horrible numbers, these two stocks barely moved. The bad news finally appears to be priced in. Toyota sales were down 34.4% and Chrysler sales were down 56.5%

DryShips ( DRYS ) was up 25% today but has fallen 50% in the past week due to their debt. I only like DRYS over $10 because it shows strength in the prospects and fundamentals of the company. An under $10 share price raises many red flags, especially with Baltic Shipping Rates this low.

The Dow Jones is now over 8000 and the Nasdaq is over 1500, these are two levels I like to see. What I would like even more is to see the Dow get back over 8500. I will have full technical analysis on the stock market tonight - Right Here

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