U.S. stocks gave up most of their gains on Friday after initially spiking to 10-month highs as weak consumer sentiment data offset an upbeat forecast from chipmaker Intel and better-than-expected profit from computer maker Dell.

Several key second-quarter earnings reports could either validate or undercut assertions that the U.S. economy is poised for recovery.

Markets Fall On Profit-Taking; Southwest Ups Bid For Frontier; GM to Sell Cars on eBay; Dish Subscribers Grow, Profit Falls; U.S. Consumer Bankruptcies on the Rise; Nobel Nod; McDonald’s Same-Store Sales Up 4.3% in July; BofA Pays $55 Million in Countrywide Employee Settlement

Senate Nixes Quick Healthcare Vote; Falling PC Sales Hurt Microsoft’s Bottom Lines; Jobless Claims Rise; Deutsche Raises Apple Outlook on iPhone Sales; Economist: Housing Market Has Hit Bottom; AT&T Profit Falls 15%; McDonald’s Profit Down; 3M Beats Expectations

The probably bankruptcy of CIT Group Inc. (NYSE: CIT) could have major implications on the retail and manufacturing sectors this week, as many related companies are reliant on the financing giant.

GM Cans Mid-Size Trucks; Treasury Yields Soar to 7-month High; Airlines Grounded by $9 Billion Loss; Copper Sinks as Dollar Rises; Supreme Court Delays Chrysler Sale; McDonald’s misses estimates; Apple debuts new iPhone

That the president of the United States of America is now creating the business plan for an automobile company is surely a sign of something big.

General Motors Corp. (NYSE: GM) is closing in quickly on its June 1 deadline to finish overhauling its operations, or opt for Chapter 11 bankruptcy. Because that deadline is actually one week from yesterday (Monday), analysts and investors will be watching GM closely this week.

Only one of the 19 financial institutions that received a bank stress test would require additional capital, the controversial government initiative has reportedly concluded.