When it comes to the U.S. stock market right now, the story continues to be about earnings. And this week will be no exception.

Sometimes you learn all you need to know while watching the morning news. When I saw Under Armour (NYSE:UA) panning for publicity this morning, I knew my beliefs were confirmed. Shares are about to make a big drop.

McDonalds (NYSE:MCD) is warning investors today, yet share price is on the rise. When cheap is good, this is a great company to have in your portfolio. Fortunately, cheap has never been more popular.

Kroger (NYSE:KR) investors are seeing strong gains today as generic brands prove their worth. The recession may be hammering most retailers, but select niches are doing very well.

Let me start off with a morsel of clarification. I don’t hate gold. I own it, or more accurately, an interest in gold via gold mining shares.

During the economic crisis, McDonald’s (MCD) stocks are thriving in markets like Asia and Europe. Consumers and investors can enjoy cheap recession eats and watch the money roll in.

U.S. President Barack Obama has decided against naming a “car czar,” and is instead asking U.S. Treasury Secretary Timothy F. Geithner and White House economic adviser Lawrence H. “Larry” Summers to head a task force on revamping the U.S. auto industry, Bloomberg News reported yesterday (Monday).

Consumer spending is falling off a cliff. Yet stores won’t feel the effects universally. The store with the best value is sure to move higher.

Pfizer Buys Wyeth for $68 Billion; Existing Homes Sales Rose 6.5%; McDonald’s Posts 5.8% Sales Growth; Freeport McMoran Lowers Sales Targets; Lincoln National Corp Cutting Staff 5%; GM Cuts More Jobs, Production; Petrobras to Cut Costs by $4 Billion; Halliburton Settles Bribery Investigation

There is a full economic calendar this week, but all eyes will be on the two-day FOMC meeting and the rate decision on Wednesday.

It will be interesting to see how the FOMC approaches this meeting. The current Fed Funds target rate is 0-0.25%, which in and of itself is rather strange. It is a moving target, not a fixed rate. Who determines which rate is used? My guess is this meeting will be used to clarify what the rate is. The Fed will either officially reduce it to 0% in a continued effort to resuscitate the economy, or lock it in at 0.25%. This would at least leave the Fed with one perceived bullet in the gun.

The rest of the…