Dow Jones Close 5/28/09 - Stock Market Closing Prices

Stock Market Closing Prices - 5/28/09

Dow Jones Industrial Average ( DJIA ) Close - 8403.80 Up 103.78
Nasdaq Stock Market Close - 1751.79 Up 20.71
S&P 500 Close - 906.83 Up 13.77
http://dowjonesclose.com

Libor Rates - 5/28/09 - Mortgage Rates

Commodities Closing Prices - 5/28/09

Gold - 960.00
Oil - 64.77
Natural Gas - 3.95

Discuss Stocks - www.stockstobuy.org

The Dow Jones Industrial Average closed at 8404 on 5/28/09, as the stock market bounced back after a treasury auction went well around 2pm on Thursday. The Dow Jones Futures were slightly higher coming into the day and the stock market traded high at after the open. At 10am, New Homes Sales were released and the stock market traded down as it became evident that foreclosures are leaking into the prime loan market in addition to the sub prime market. You can see some of my comments here.

During the afternoon trading session, stocks traded flat but took off higher after a treasury auction wasn't a disaster as expected. I think this was a classic short covering rally because the Dow rose 100 points very quickly.

Commodities continued to rise as Oil hit $65, Natural Gas bounced off a double bottom, and Gold traded up to $960 per ounce. If oil continues to rise you could see the stock market actually go down as gas prices become more expensive. These are all thing to keep an eye on going forward. I am also watching mortgage rates because we saw a big spike in rates over the past two days. This could kill housing bottom hopes. I know a sound bearish but there are so many moving parts and our government continues to print money. One wrong step and we could be back where we were in March. Check out some of the events I will be watching for tomorrow.

Check out my stocks to watch report for Thursday. I will also have technical analysis of the stock market tonight - Right Here

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