Stock Market Closing Prices - 4/20/09
Dow Jones Industrial Average ( DJIA ) Close - 7841.73 Down 289.60
Nasdaq Stock Market Close - 1608.21 Down 64.86
S&P 500 Close - 832.41 Down 37.19
http://dowjonesclose.com
Libor Rates - 4/20/09 - Mortgage Rates - 4/20/09
Commodities Closing Prices - 4/20/09
Gold - 884.50
Oil - 45.77
Natural Gas - 3.54
The Dow Jones Industrial Average closed at 7842 on 4/20/09, as the stock market went down on profit taking, weak financial stocks, and the fear that the Government is going to try to convert warrants into common shares of some of the distressed banks.
Wall Street woke up to the Dow Jones Futures significantly lower on bank nationalization fears. If the Government takes a bigger stake in these banks, some could argue this would be nationalizing the banks through their back doors. Citigroup ( C ) was down big today on this news.
The stock market made a steady decline all day long with minor bounce attempts at 11:15am EST and 1:30pm EST. These bounce attempts were sold resulting in fresh lows being made. I continue to watch the Financial Bull 3x ( FAS ) as it is rapidly approaching a major support at $6.25. Ok, let me stress that again, MAJOR support level. If $6.25 fails, you could see some panic selling start to set in. Keep in mind, FAS stock has quadrupled in the past 6 weeks. We will get some big earnings reports out this week such as IBM, Apple, Boeing, Ebay, Yahoo, Caterpillar, Wells Fargo, Amazon, Microsoft. Buckle Up! Check out my stocks to watch report for Tuesday.
I will also have technical analysis of the stock market tonight - Right Here
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