After a two-day “holiday” to start the week–Martin Luther King Day today (Monday) and Inauguration Day tomorrow (Tuesday)–it’ll be back to business on Wednesday as Congress begins to grill U.S. Treasury Secretary nominee Timothy Geithner – the appointment many observers believe to be the most important of the new Barack Obama administration.

A hectic week on the economic calendar is highlighted by the initial look at second quarter gross domestic product (GDP). Remember, a recession is defined as two consecutive quarters of negative growth, so doomsayers have targeted this week’s release as confirmation of their pessimism.

Brian Hunt brings you the New Highs and Lows of note last week.

Continental Airlines Inc. (CAL) said it would forgo a merger with UAL Corp.’s (UAUA) United Airlines unit, while all-business-class carrier Eos Airlines Inc. ceased operations after filing for bankruptcy protection.