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Updated from 6:59 a.m. EDT

Oil prices finally moved up, nearing $120 a barrel after a four-week slide in oil prices. Of course, this put the market on its heels a bit. The market also had to digest some tough earnings news.


(AIG) - Get American International Group, Inc. Report

posted a huge second-quarter loss, sending shares almost 20% down.

Meanwhile, the world's biggest retailer,


(WMT) - Get Walmart Inc. Report

, reported a 3% rise in sales at U.S. stores open at least a year in July, slightly below Wall Street estimates. An increase of around 3.4% had been expected by some pundits. Wal-Mart had forecasted a gain of 2% to 4%.

So it was another tough day for the financials, including

Washington Mutual

(WM) - Get Waste Management, Inc. Report



(WB) - Get Weibo Corp. Report


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Bank of America

(BAC) - Get Bank of America Corp Report


Merrill Lynch


. And the retail sector also struggled.

So which way is the economy headed?

With this in mind, we thought we'd take a look at Thursday's most-searched stocks on

, including

General Mills

(GIS) - Get General Mills, Inc. Report



(F) - Get Ford Motor Company Report


Johnson & Johnson

(JNJ) - Get Johnson & Johnson Report

, and see what Jim Cramer's had to say about them recently.

To read the rest of the story and find out what Cramer's been recommending lately, please click here.

A note from James Altucher:Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to atheme but also offer significant analysis as to why the stocks are cheap.Here are some examples: Here's the challenge: Build a portfolio at with greatanalysis, and send me the link. Each great portfolio (with analysis)will get posted on with your byline (as a "StockpickrGuest Columnist") and will be included in my email I send to Jim and the otherhedge fund managers on my list.

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