This week, oil continues its record ramp and stocks took a drubbing as the consumer continued to suffer and the specter of inflation haunted investors. The Dow Jones Industrial Average tumbled down to close the week at 12,479.63. The S&P 500 also suffered, finishing at 1,375.93, and the Nasdaq wound up at 2,444.67.
On Friday, General Motors (GM Quote - Cramer on GM - Stock Picks) announced that a strike by the United Auto Workers and American Axle (AXL Quote - Cramer on AXL - Stock Picks) had hurt second-quarter production. Earlier in the week, Ford (F Quote - Cramer on F - Stock Picks) announced that it does not expect to make a profit this year. Meanwhile, the airlines got pummeled as a slew of analyst downgrades rocked the sector. Shares of AMR (AMR Quote - Cramer on AMR - Stock Picks) and US Airways (LCC Quote - Cramer on LCC - Stock Picks) were among the stocks to take it on the chin. One of the few winners in the week was Anheuser-Busch (BUD Quote - Cramer on BUD - Stock Picks), which benefited from a takeout offer from Belgian brewer InBev. Next week, retailers will be in the spotlight as investors try to get a read on the pulse of a harried consumer. Willams-Sonoma (WSM Quote - Cramer on WSM - Stock Picks) and Tiffany (TIF Quote - Cramer on TIF - Stock Picks) will report results, as will American Eagle (AEO Quote - Cramer on AEO - Stock Picks) and Men's Wearhouse (MW Quote - Cramer on MW - Stock Picks). So what's next? Will oil continue to scream higher, engendering a beatdown for U.S. stocks? Will the consumer show signs of life? Can airline stocks get off the ground? Where's the market going? Vote in our poll to share your insight.![]() |




