Dow Jones Close 3/5/09 - Stock Market Closing Prices

Stock Market Closing Prices - 3/5/09

Dow Jones Industrial Average ( DJIA ) Close - 6594.44 Down 281.40
Nasdaq Stock Market Close - 1299.59 Down 54.15
S&P 500 Close - 682.56 Down 30.31
http://dowjonesclose.com

Libor Rates - 3/05/09

Commodities Closing Prices - 3/5/09

Gold - 935.60
Oil - 43.80
Natural Gas - 4.09

The Dow Jones Industrial Average closed at 6594.44 on 3/5/09, as the stock market fell big as hopes of a China stimulus package faded. China came out with a statement last night saying that they promise to create jobs and support growth but said nothing about a new stimulus package. This was the reason for the stock market pop yesterday.

The Dow Jones Futures were green last night but quickly turned red. This morning in pre market, the Dow Futures were down over 100 points. Right after the open, The Dow Jones and S&P 500 both broke to new 52 week lows as the Doug Kass S&P 500 bottom call was broken. A few days ago, Doug Kass of Seabreeze Partners Management said the S&P 500 will put in a bottom within three days and his prediction expired yesterday. Kudos to Jeff Mackie of CNBC Fast Money for disagreeing with him on the bottom call.

The Bank Stocks were very weak today. Citigroup ( C ) fell below $1.00 and Bank of America ( BAC ) was down another 9% at around $3.25 per share.

General Motors ( GM ) auditors' released a " going concern " statement and renewed fears that the company won't survive also weighed on the market today. GM stock hit a low of $1.80 down 19% at one point.

Tomorrow the employment number and unemployment rate will be released at 8:30am. This data is supposed to be really horrible but if better then expected could cause a rally. I continue to watch the next Dow Jones support levels between 6350-6500. April 14, 1997 - The Dow Jones hit a low of 6315.87 and closed at 6487. This is the zone I am looking to step into this market. We also saw similar trading on January 2, 1997 - The Dow Jones hit a low of 6318.96 and closed at 6442.49. If the 6300's are broken you do have additional support in the 6200's but then you could break down to 5900-6000. This is truly historic because I never thought i'd see the Dow Jones in the 6000's ever again. The #1 problem with the stock market right now is we have no idea what earnings will be 3 months from now or a year from now.

I will have full technical analysis of the stock market tonight, Right Here

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