Barchart Stock Market Wrap – February 13, 2009
Friday, February 13, 2009
by Barchart Analyst of Barchart.com
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Barchart Stock Market Wrap – February 13, 2009
The stock market was weaker today as traders await some clarity regarding the economic stimulus plans being pushed by Washington. The House passed the $787 billion compromise stimulus plan today despite zero support from Republicans and defections from the Democratic side.
Meanwhile the market has adopted a ‘wait and see’ attitude regarding the positive effect of the Democrats’ stimulus package. President Obama promised to release plans to stem home foreclosures on next Wednesday
The Dow Jones Industrials closed down 82 points to close at 7,850 for a loss of 1% today. The S&P 500 Index was also lower, closing down 8 points for a loss of 1%.
 April Comex gold futures were modestly lower, losing $6.2 on profit-taking after briefly trading above $950 yesterday.
 The spot March crude oil futures rallied $4.05 per barrel on speculation that the spread between the nearby March contract and the deferred contracts had grown too wide.
 The March Dollar Index was down 58 points on speculative selling after the passage of the stimulus bill in the House. 
Reports Due Monday:
US Markets and government offices are closed due to the President’s Day holiday.
Market Momentum: There were 1,165 advancing issues on the NYSE, with 1,893 declining issues. On the NASDAQ, there were 1,230 advancing issues with 1,442 declining. New 52-week Highs: There were 19 issues reaching 52-week highs between the NYSE and NASDAQ
New 52-week Lows: There were 88 new 52-week lows on the NYSE and NASDAQ.
Recent articles from this author
- Interview with a Successful Currency Trader - Friday, January 01, 2010
- Barchart Chart of the Day - September 16, 2009 - Wednesday, September 16, 2009
- Barchart Stock Market Wrap – March 13, 2009 - Friday, March 13, 2009
- Barchart Stock Chart of the Day – March 13, 2009 - Friday, March 13, 2009
- Barchart Stock Market Wrap – March 12, 2009 - Thursday, March 12, 2009
About the author
The Barchart Analyst has over 35-years experience in the futures and stock markets, and is a former member of the Chicago Board of Trade. He has participated in an advisory role for many large corporations and has spent 19 years developing and back testing sophisticated trading systems for top Wall Street brokers and commodity trading firms. The Barchart Analyst uses many of Barchart.com's free tools, such as Signals, Top Stocks by Sector, and Opinions, to scour the market for stocks on the verge of a major move. His commentary alerts readers to major market trends and provides promising trading ideas. Comments may be forwarded to The Barchart Analyst via editor@insidefutures.com. With a heritage dating back to 1934, Barchart.com, Inc. has substantial experience in meeting the informational needs of the financial industry. A full-service provider of futures and equities financial market data from all major exchanges, Barchart also provides comprehensive historical market data and research, custom web content, complex real-time charting applications, an extensive array of market tools and analytics, retail, and educational products.
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