Wall Street on Tuesday will see if U.S. shoppers crippled by high energy prices earlier this month continued to spend mostly on necessities like food and household items.

GM's shares  have plummeted to less than $12, the lowest level since 1955. That means the  world's largest auto maker has a stock market value of only about $7 billion.

Oil prices will continue to roil the stock market this week as the summer driving season officially kicks off and as more companies feel the pinch of higher energy prices on their profit margins.

Skyrocketing oil prices, the threat of recession and  continued  housing slump are all pointing to a rough summer for the markets. Still, there are opportunities for investors.