- Charts Predict S&P Festive Rally Above 1,000
- BMW's Global Sales Plunge by a Quarter in Nov.
- Pros Say: Job Losses of 425,000; S&P to Fall to 700
- Bleak Jobs Data Forecasts Add to Automakers' Woes
- Euro Stocks Fall Ahead of US Jobs Data
- European Stocks to Open Sharply Lower
- Toshiba to Briefly Halt Chip Output on Weak Demand
- Boeing Mulls Pushing Back Dreamliner Deliveries
- Chief Executive Quits Australian Publisher Fairfax
- Yoshikami: Investing & the Obama Presidency
- Wall of Shame: Fortress Investment's Wes Edens
- Cramer to Geithner: Let FDIC Chair Keep Her Job
- Lightning Round: Boeing, Medtronic, Agrium and More
- Lightning Round OT: Continental, Amylin Pharma and More
- Sell Block: Cramer's Solution for Mortgage-Backed Paper Mess
- Toll Brothers CEO's Housing Outlook
- Making Money Off M&A
- Your First Move For Friday December 5th
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For the first time in a long time, it looked as if oil was going to stay out of the market headlines. No such luck.
After drifting lower for much of the week on mixed economic data, stocks rallied powerfully on Thursday, but ended the week with a plunge that was even more abrupt.
CNBC guests, as usual, were hardly reluctant to provide suggestions on how to play the news.
Monday:
The ISM manufacturing index fell in May, for the fourth month in a row. Construction spending lost ground in April for the sixth time in seven months. Oil slipped below $125 a barrel. Ken Thompson was forced out as CEO of Wachovia.
Thomas Winmill of the Midas Fund said he likes commodities and commodity-related stocks. He urged investors to look at shares of platinum and gold producers: Freeport McMoRan [FCX
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], Kinross Gold [KGC
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], and Lihir Gold [LIHR
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].
Citi auto and auto-parts analyst Itay Michaeli pointed to fuel economy and emissions control (another reason for a platinum play, since platinum is used in all catalytic converters) as top trends in the industry. He picked Borg Warner [BWA
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], American Axle [AXL
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], and Goodyear Tire & Rubber [GT
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].
Tuesday:
General Motors said it will close four North American truck plants. Factory orders posted a surprising April gain. Lehman Brothers prepared to report the first quarterly loss in its 158-year history. Car sales figures for May were dismal, but thanks to the railroads, the Dow Jones Transportation Index continued to ride high.
Jim Awad of WP Stewart Asset Management encouraged investors to look at American multinationals active in the BRIC (Brazil, Russia, India, China) countries, even General Motors [GM
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]. His other ideas? CNBC.com parent General Electric [GE
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], United Technologies [UTX
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], Automatic Data Processing [ADP
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], and Fastenal [FAST
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].
Kevin Kirkeby of Standard & Poor's and Longbow Research's Lee Klaskow recommended railroads. Both men liked Norfolk Southern [NSC
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], but while Kirkeby's second selection was troubled Canadian National [CNI
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], Klaskow went with Burlington Northern Santa Fe [BNI
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].
Wednesday:
ADP's monthly report showed a May gain of 40,000 private-sector jobs. First-quarter productivity increased more than expected, although unit labor costs also outran expectations. May's ISM services index reading was mixed.
Bernie McGinn of McGinn Investment Management was ready to tiptoe back into financials with AIG