The Week in Review: Bears on the Prowl

By anyone's reckoning, it was a rough week.  Crude oil continued its relentless climb; banks and brokerages gave hints of more discouraging news; government data pointed to a weak economy; even strong companies like Nike, Oracle, and Research In Motion issued cautious guidance; and Federal Reserve policymakers, widely perceived as powerless to help, left interest rates unchanged. 

But all week, even through the worst of the market's sell-offs, CNBC guests offered insights for investors. (For more on the week in review, see the accompanying CNBC video.)

Monday:

Citigroup was reportedly ready to slash investment banking jobs.  Republic Services said it was buying Allied Waste, and Bunge announced the acquisition of Corn Products.  The market closed flat.

Doug MacKay of Broadleaf Partners took a tentative step into consumer discretionary stocks, staying away from homebuilders, but talking up Harley Davidson and Nordstrom .

Permanent Portfolio's Michael Cuggino focused on computer security, commodities, and agriculture in choosing Symantec , Freeport McMoRan , and Mosaic .

Tuesday:

House prices fell to 2004 levels, declining in all 20 cities surveyed for the Case-Shiller index.  Consumer confidence dropped in June to the fifth-lowest level ever.

Charlie Smith of Fort Pitt Capital was enthusiastic about wireless providers AT&T and Verizon , as well as global infrastructure plays ITT and Ingersoll Rand .

Neil Hennessy of Hennessy Funds recommended W. R. Grace , offshore drilling equipment company Oil States , and Airgas .

Tuna Amobi of Standard and Poor's offered a couple of carefully-selected media companies, the highly-diversified Disney and the recently-independent Time Warner Cable .

Sanford Bernstein's Alexia Howard picked food companies that have been able to pass along their rising commodity costs:  Sara Lee , Kraft Foods , and Dean Foods