The earnings season beginning today (Tuesday) is shaping up to be an important one, as it could have a significant impact on a struggling stock market rally.

Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.A) is finally starting to offload its 20% stake in ratings agency Moody’s Corporation (NYSE.MCO).

There are a number of stocks that are also tracing out bullish consolidation patterns – and we’re going to focus on Costco (NASDAQ: COST) this week.

By the time investors read this today (Monday), embattled U.S. automaker General Motors Corp. (NYSE: GM) Motors Corp. could be operating under the protection of the U.S. bankruptcy code, a strategic move made in an effort to transform the once-dominant firm into a leaner and more competitive player.

While other discount retailer’s struggle to “stay above water” this company is ahead of the game and the stock market’s prediction of instability.

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As the worst financial crisis since the Great Depression continues to worsen, decades of deregulation and the growing independence at the state level are being reversed as a deteriorating national economy forces the federal government to increasingly take on responsibilities that no other institution has the power or resources to handle.

Retail stores confirmed yesterday (Thursday) what most analysts had already suspected – the Grinch stole Christmas. The huge discount programs big retailers devised to bolster sales failed to attract enough consumers to save the holiday season.

It’s clear that 2009 is going to be grim in economic terms. Martin Denholm says investors should stick to sectors that fare better during recessions. The healthcare sector, discount retailers and utilities companies provide essential products and generate repeat business. Martin picks the strongest companies in these “safe haven” sectors.

With the benchmark Federal Funds rate already down to 1.0%, U.S. Federal Reserve Chairman Ben. S. Bernanke has only so much room for another cut (although many economists are predicting an additional half-percentage-point cut at the Dec.15-16 meeting).