Dow Jones Close 12/16/08 - Stock Market Closing Prices

Stock Market Closing Prices - 12/16/08

Dow Jones Industrial Average ( DJIA ) Close - 8924.14 Up 359.61
Nasdaq Stock Market Close - 1589.89 Up 81.55
S&P 500 Close - 913.15 Up 44.58
http://dowjonesclose.com

Libor Rates - 12/16/08

1 Month - 0.884%
3 Month - 1.84%

Commodities Closing Prices - 12/16/08

Gold - 859
Oil - 43.63
Natural Gas - 5.80

The Dow Jones Industrial Average closed at 8924 on 12/16/08, as the stock market soared on rate cut news from the Federal Reserve. The Dow Jones has now closed back over the 50 day moving average for the first time since early September. This is a huge buy signal for technical traders, specifically when we crossed 8750 today. I took this opportunity to buy Research in Motion ( RIMM ) this afternoon below $39 but I have a tight stop in place. Tomorrow morning we will get earnings out of Morgan Stanley ( MS ) so if those earnings are even near expectations like Goldman Sachs ( GS ) today, we could get another pop. Click Here for more technical analysis on the Dow Jones.

Todays Biggest Stock Market Gainers

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Dry Bulk Shipping Rates Report - 12/16/08 DRYS

The following is a report on Dry Bulk Shipping Rates for 12/16/08. This data is critical for how the DryBulk Shipping Stocks such as DryShips ( DRYS ), Excel Maritime Carriers ( EXM ), Diana Shipping ( DSX ), Genco Shipping ( GNX ), TBS International ( TBSI ), Navios Maritime ( NM ), and OceanFreight ( OCNF ) will trade during the day. As you probably know, the Dry Bulk Shipping index can tell you a lot about the state of the World Economy. When Bulk Shipping Rates are at all time highs, the World Economy is outstanding. When Bulk Shipping Rates are as low as they have been lately, it signifies that the world economy has come to a screeching halt.

Dry Bulk Shipping Rates - December 16, 2008

Baltic Dry Index ( BDI ) - 828 Up 25
Baltic Cape Index ( BCI ) - 1514 Up 60
Baltic Panamax Index ( BPI ) - 480 Up 30
Baltic Supramax Index ( BSI ) - 481 Down 5
Past Bulk Shipping Rates

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Art Cashin CNBC 12/16/08 - Goldman Sachs GS

Art Cashin, NYSE floor trader from UBS, was on CNBC 12/16/08 and gave his comments on what he is looking at today as far as the stock market goes.

What are you watching today Art?

I think we need to sit back and wait for the Fed and GE guidance that will be coming this afternoon. The Goldman Sachs ( GS ) earnings were neutral, weren't as bad as people expected but their rating was downgraded by Moody's. We also have to see if there is more fall out from the Madoff scandal.

Traders want to hear something on this quantitative easing from the Federal Reserve Today.

For all of Art's Comments, go here

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Dow Jones Futures 12/16/08 - Stock Market

The Dow Jones and Stock Market Futures are looking higher for 12/16/08, as investors wait for Goldman Sachs ( GS) earnings this morning followed by the Interest Rate Decision at 2:15pm. Tomorrow morning Morgan Stanley ( MS ) reports their earnings as well. Check out my analysis of the Dow Jones and Nasdaq.

Stock Market Futures - December 16, 2008

Dow Jones Futures - Up 59
Nasdaq Futures - Up 14
S&P 500 Futures - Up 9

Today's Biggest Gainers - 12/16/08

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Dow Jones Analysis 12/16/08 - Stock Market

The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/16/08

Dow Jones Support & Resistance Levels - December 16, 2008

Resistance Levels: 8750, 9000, 9026.41
Support Levels: 8500, 8350, 8150

http://stockcharts.com - Chart

The Dow Jones has closed under the 10 day moving average for the 2nd day in 3 days but still remains above key support of 8500. 8500 seems to be the battle ground right now. A close below this and I would be bearish again. The good news is the 50 day moving average is now 8750 and we haven't seen a close over this level since September. As long as the Dow stays above 8500, I am bullish. More Technical Analysis - Go HERE

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Nasdaq Analysis 12/16/08 - December 16, 2008

The following is Technical Analysis for the Nasdaq ( NAS ) for 12/16/08

Nasdaq Support & Resistance Levels - December 16, 2008

Resistance Levels: 1550, 1603
Support Levels: 1500

http://stockcharts.com - Chart

The Nasdaq briefly traded below key support of 1500 today but bounced back to close over this level. The Nasdaq did close below the 10 day moving average today for the first time in two weeks so i'd be a bit cautious here. I am bullish above Nasdaq 1500 so I remain positive.
Not much has changed today and I still believe a close back over the 50 day moving average could really start a nice up move for the Nasdaq. I am expecting the volume to be light from now until the end of the year so these markets could get volatile in the coming weeks. Nasdaq Support 1500 - Nasdaq Resistance 1550, 1600. For more technical analysis, Click Here

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