Today's Market Outlook

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DOW Closes Lower, US Futures Decline, Will BAC be Nationalized?

The Dow Jones Industrial average closed yesterday at 7465.95, its lowest in six years after breaking through its November 2008 support level. US Futures are also on the decline on concerns that government stimulus packages to the banking an auto industries will not prevent this recession from getting worse. As well, consumer prices were up 0.3%, the first gain since July 2008, as energy costs rose, however, inflation is expected to be nil for the next 3-6 months as the economy is expected to continue its downturn.

DOW Reached Lowest Point in Six Years

CLOSING UPDATE

Thursday, February 19, 4:55PM EST

The Dow Jones industrial average is ending at its lowest level in more than six years. The Dow has hovered around its lows of November since Tuesday when the blue chips tumbled 300 points. The Dow's finish below the Nov. 20 mark leaves the index its lowest level since Oct. 9, 2002. Worries about the economy and, on Thursday, the strength of the technology industry, weighed on stocks. The Dow is ending down 89.68, or 1.2 percent, at the 7,466 level. The Standard & Poor's 500 index is down 9 at the 779 level.