Terranova noted three stocks that have held up during the bear market: General Mills(GIS), Burlington Northern(TEXT), and Abbot Labs(ABT).
A Google poll of favorite stocks under $10 had these results: 49% for Alcoa(AA), 34% for Bank of America(BAC), 11% for Citigroup(C), and 6% for General Motors(GM).Bleak Future
How bad is the economy going to get? Joe Lavorgna, chief US economist for Deutsche Bank, said that the economy is in "unchartered territory." He said the willingness of banks to lend is "cratering," calling it a "bad sign for the economy." He noted the last time that happened was in the second quarter of 1980 when the economy contracted 8%. He said the future of the economy will hinder on the automakers: "If they go under, we're toast." He predicted GDP will be down at least 41/2% this quarter and shrink next quarter, adding unemployment could hit 8%.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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