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Bears Come Out, Dow Closes Below 10,000 for 1st Time in 3 Months

Posted Feb 08, 2010 04:14pm EST by Vince Veneziani in Investing
Related: ^DJI, ^GSPC, LEN, JPM, BAC, XLF, XHB

From The Business Insider, Feb. 8, 2010:

The market was mixed on light volume until 3:00 PM. Then the Bears came out in full force.

The Dow ended up dropping 104 points to 9908, the first close below 10,000 since Nov. 4. The NASDAQ lost 15 and the S&P 500 lost 9.45. Among the most actively traded stocks, financials such as JPMorgan and Bank of America were weak amid ongoing concern about sovereign debt issues. Meanwhile, homebuilders such as Lennar surged after The Wall Street Journal said the industry is looking “a lot less bad.”

Commodities had a great day: Oil ended up nearly 1% at $71.89 a barrel. Gold gained $12.40 to rise to $1065.20 an ounce. Silver gained $0.24, ending at $15.07 an ounce.

Grains, Softs, and meats remain positive. Bonds, equities and energy are falling.

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