Five Stocks to Watch

Jon Hilsenrath, money and investing editor at The Wall Street Journal, offered CNBC his weekly "Five for Five": the five stocks investors must watch this week.

- Blackstone Group: With "the buyout environment flat on its face," there's "no reason to expect good numbers" from the private-equity collossus, Hilsenrath says. Blackstone will report Q2 results on Wednesday.

- Berkshire Hathaway: reports Q2 results Friday. CEO Warren Buffett "has said the party's over" for investing as we sink deeper into "a soft economy," Hilsenrath says.

- Procter & Gamble: the personal and household staple maker reports Q4 results Tuesday.

- American International Group: The insurance giant's performance is down 53 percent year-to-date. AIG reports Q2 results Wednesday.

- Cisco Systems: CEO John Chambers is "one of the gloomiest guys out there," says Hilsenrath. Chambers will join CNBC on Wednesday to discuss the Internet networking firm's results.