Bullish Blog

Reuters - Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.

AP - The stock market is looking winded from its three-month race upward.

AFP - Wall Street investors face a battery of economic news and the looming bankruptcy of auto giant General Motors in the coming week, testing the nerves of investors after a strong week.

Bankruptcy would leave the pair leaner, but they would carry heavy debts and poor reputations as they faced increased competition for a shrinking market.

Reuters - Wall Street faces a historic shake-up next week as General Motors, a pillar of American industry, heads into bankruptcy, but the market could advance further if economic data signals the worst of the recession has passed.

Investor’s Business Daily - 1 The carmaker’s shares slid 33% to 0.75, falling below $1 for the first time in 76 years. GM is widely expected to file for bankruptcy Mon., making its stock basically worthless. Also, as expected, the UAW easily ratified minor labor concessions. As part of that deal, GM will build subcompact cars in the U.S., which has much higher labor costs, rather than in China.

Reuters - A federal judge on Friday approved New York Attorney General Andrew Cuomo’s request to delay the U.S. Securities and Exchange Commission’s pension kickback case, rejecting defense attorneys’ arguments that this could give the federal regulator an unfair advantage.

AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman’s fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility that subsided during December but that has returned in 2009. The numbers are the closing levels for the Dow:

AP - A late-day shot of adrenaline sent stock prices soaring Friday, giving Wall Street its third straight monthly gain.

A late rally pushes stocks higher, with energy and metals stocks leading the way. Crude oil tops $66 for the first time since November. Inflation will be a worry in the coming months. Consumers are feeling better about the economy. GM heads toward bankruptcy.