Dow ends down 194 points

CNBC's Margaret Brennan- On St Patrick’s day and Wall Street hopes to see more green numbers than red in today’s trading despite all last week’s problems stocks did and the weak higher but on Friday the Dow ended down on 194 points at 11,951 and the Nasdaq down 51 points at 2,212.

The big focus today will continue to be on Bear Stearns. Wall Street brokerage got a bail out on Friday from the Federal Reserve in JP Morgan Chase. Today Bear Stearns was out with its quarterly earnings a few days earlier than it was originally planned, Wall Streets expects the profits that have fallen by at least 75% from a year ago.

Economic news includes a report on industrial production and capacity utilization, factories around the countries are expected to show a decrease in activity. The National Association of Home builders will release its members view of the Housing markets for the month of March not much of optimism or enthusiasm expected there.

New York governor David Batterson will be sworn in as governor today replacing Eliot Spitzer who resigned after linked to two prostitution scandals last week. And on St Patrick’s Day parade in New York city will be the 247th to travel up the faint 5th Avenue and despite all the news in the market place right now including Tuesday’s Federal Reserve meeting expect Monday’s celebration to cut back on trading buying is already Holiday shortened week 

Wall Street action

• Dow ended down 194 pts, Nasdaq down 51 pts
• Today Bear Stearns to release its quarterly earnings
• Wall St expects the profits to have fallen by atleast 75%
• Report on the industrial production and capacity utilisation to be released today
• The National Homebuilders Assoc will release its members view on teh housing mkt for the month of March