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Investors are preparing to close out the last three trading days of 2008 with Wall Street's worst performance since Herbert Hoover was president.

The ongoing recession and global economic shock pummeled stocks this year, with the Dow Jones industrial average slumping 36.2 percent. That's the biggest drop since 1931 when the Great Depression sent stocks reeling 40.6 percent.

The Standard & Poor's 500 index is set to record the biggest drop since its creation in 1957. The index of America's biggest companies is down 40.9 percent for the year.

With these statistics ready to play out this week, it is little wonder why investors are all too happy to close the books on 2008. Analysts are already looking toward January as a crucial period for the market as it tries to recover some of the $7.3 trillion wiped from the Dow Jones Wilshire 5000 index, the broadest measure of U.S. stocks.

"It is hard to gauge a recovery because there's so many things out there that are interactive with each other," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "Nothing is in a vacuum. Anybody who is managing money has to be on the cautious side for at least the first six months of 2009."

He said many analysts are jumping past this week and focusing on next month, especially with Barack Obama set to be sworn in as president on Jan. 20. There is hope that the new administration will deliver another stimulus package, which along with December's interest rate cuts, might help quell the financial crisis.

Trading is expected to remain volatile with many market participants on the sidelines during the holiday-shortened week, but that doesn't mean investors won't be kept busy. With no Santa Claus rally last week, economic data slated for the coming days could sway the market's mood going into 2009.

Investors will be awaiting details about how retailers fared in the post-Christmas sales period, especially since consumer spending drives more than two-thirds of the U.S. economy. The main question is if bargain prices at the malls will be enough to rescue retailers from a bleak holiday shopping season.

Meanwhile, another gauge of how Americans feel about spending money will be released on Tuesday. The Conference Board will issue its December index of consumer confidence, which is expected to rise to a reading of 45.2 for this month, up slightly from 44.9 in November.

The Labor Department will report on weekly jobless claims Wednesday, after a 26-year high of 586,000 initial filings in the week ended Dec. 20.

But the most anticipated economic data will be delivered Friday when investors get a fresh reading on the manufacturing sector. The Institute for Supply Management releases its December survey of purchasing managers.

The index is expected to show a reading of 35.5, down from November's 36.2, according to economists polled by Thomson Reuters. A reading above 50 points to expansion, while a reading below 50 shows a contraction.

There is little in the way of corporate news slated. Though, the final week of the year - when volume is slow and many money managers are on vacation - is often a time when companies slip through lower quarterly forecasts.

Investors were still waiting word if GMAC Financial Services, the financing arm of General Motors Corp., will be eligible for a government bailout. GMAC received the Federal Reserve's approval to become a bank holding company last week, but that was contingent on putting into place a complicated debt-for-equity exchange by 11:59 p.m. EST Friday.

That deadline passed with no word from the company. Analysts have speculated that if GMAC doesn't obtain financial help it would have to file for bankruptcy protection or shut down, which would be a serious blow to parent GM's own chances for survival.

Both General Motors and Chrysler LLC on Monday will receive the first part of the $13.4 billion in emergency loans from the government. Each will receive about $4 billion, then receive the second payment of $5.4 billion on Jan. 16. GM gets a third installment of $4 billion on Feb. 17.

Ford Motor Co. did not participate in the government rescue plan.

Copyright 2008 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed

Suze Orman will be a guest on Larry King Live Tuesday.

She is a well-known personal finance expert, and host of The Suze Orman Show on CNBC.

Suze’s commentary is a Larry King Live Blog exclusive.

Last week I watched the CEOs of the big three automakers testify before Congress. Testify is being kind, as what they really seemed to be doing was begging for money. All because their companies refused to invest in what they had to know was true, for more than 20 years.

Those supposedly smart CEOs that you are programmed to believe are smarter than you, didn’t follow the simple law of making choices that are based on fact, on what is known. We have known for years that oil is a limited commodity, yet Detroit did not aggressively pursue higher fuel efficiency (and don’t get me started on the fact that Congress didn’t exactly push them in that direction). They saw their competitive edge erode to foreign car manufacturers, yet they didn’t manage their business to adapt to that competition. And in the process they turned off their main client: Americans, who refused to support products that they now judge to be of inferior quality.

They saw the marketing surveys; they knew they were losing ground to the competition, yet it sure doesn’t seem like they made the massive changes necessary to reinvent themselves for an evolving auto industry.

Yet, I firmly believe that as incompetent and clueless as they were, now is not the time to let the Big Three fail. We as a nation can’t afford the impact of all the lost jobs: both those employed directly by Chrysler, Ford and General Motors, and the millions more whose livelihood is linked to the industry.

Yes, we should all be mad and annoyed that we have to bail out these companies that have been run with an indifference to tackling what is known. My hope is that at the very least, any federal aid will come with serious requirements, oversight and regulations. What is needed is that these CEO’s finally get their heads out of the sand and make the known changes that have always been needed and start running these companies like this is 2008 not 1958.

In the meantime, as I was watching the Congressional hearing I was thinking about you, and how my wish is that you act far more intelligently than the auto CEOs this holiday season. I hope that you have the fortitude and foresight to make choices based on what you know is true today.

• You know you need to build an emergency savings fund that can cover six to eight months of living expenses; so you and your family will be okay if you are laid off.
• You know you need to get serious-finally-about tackling your credit card debt, because you understand how a high unpaid balance can mean big trouble in 2009.
• You know you need to invest more for retirement to have any shot at living comfortably later in life.
• You know you need to sit down with your child and discuss how much you can honestly afford to cover for college

If you honestly know all that, you will not spend money on holiday shopping that should instead be used to build financial security. If you know all that, you will take actions based on what you know so you never have to turn to anyone for a bailout (as if you could get one). Stop looking up to the CEOs of the world as if they are smarter than you. If they are so smart, why have they run their companies into the ground? I want better for you and your family. Focus on what you know you have to do to build security and you will give your family the most wonderful gift of all.

Happy Holidays.
– Suze

Wall Street had a strong start to the week, after President-elect Barack Obama outlined his economic stimulus plans and indications that Congress will help Detroit's automakers stave off bankruptcy.

Over the weekend, Obama outlined plans to invest in infrastructure, energy and construction projects to spur the U.S. economy out of its year-long recession and create jobs. The proposals came after the Labor Department said the economy shed 533,000 jobs in November.

The major averages started the day higher, as the Dow Jones industrial average gained 269 points, or 3.1%, to 8,904, shortly into the session. The Standard & Poor's 500 was up 31 points, or 3.5%, to 907, while the Nasdaq added 43 points, or 2.9%, to 1,553.

According to TradeTheNews.com, Democrats in Congress and the Bush administration have agreed to the framework of a deal that provide loans to General Motors (nyse: GM - news - people ), Ford Motor (nyse: F - news - people ) and Chrysler, but not nearly the $34.0 billion the companies requested. Rather, the package is believed to be worth around $15.0 billion, and would help GM and Chrysler hold off bankruptcy until at least March, but may require management change. Shares of GM climbed 62 cents, or 15.2%, to $4.70 early Monday, while Ford gained 31 cents, or 11.4%, to $3.03. (See "Promises Of Rescue Come With Demands For Change.")

Still, the news out of corporate America was not all good over the weekend and Monday morning. More job cuts are on the way, from companies like 3M (nyse: MMM - news - people ) and Dow Chemical (nyse: DOW - news - people ).

3M announced over the weekend that it would cut 1,800 jobs in the fourth quarter, and on Monday morning the diversified company cut its 2008 earnings guidance to reflect the global economic slowdown. Shares of the Dow component were up 22 cents, or 0.4%, to $60.07, during the broad rally early Monday.

Dow Chemical said it will lay off 5,000 workers and close 20 plants in "high-cost" locations as part of its accelerated restructuring plans. The news sent Dow shares up $1.03, or 5.4%, to $20.03.

The outlook is also uncertain for MetLife, after the insurance company trimmed its fourth-quarter earnings guidance and said it could report a loss for the period. MetLife (nyse: MET - news - people ) still managed a $1.19, or 3.9%, gain, to $31.95.

New jobless claims fell more than expected last week from a 16-year high, the government said Wednesday, though they remain at elevated levels due to the slowing economy.

The Labor Department reported that initial requests for unemployment benefits fell to a seasonally adjusted 529,000 from the previous week's upwardly revised figure of 543,000. That is lower than analysts' expectations of 537,000.

Despite the improved number, initial claims remain at recessionary levels. The four-week average, which smooths out fluctuations, rose to 518,000, its highest level since January 1983, when the economy was emerging from a steep recession.

The number of people continuing to claim unemployment insurance also dropped unexpectedly to 3.96 million, down from the previous week's 4.02 million, which was the highest level in 25 years. The labor market has grown by about half since 1983.

Economists consider jobless claims a timely, if volatile, sign of how fast companies are laying off workers. Employees who quit or are fired for cause are not eligible for benefits.

The economy has been hit hard in recent months by the housing slump and the broader financial crisis, which have led consumers and businesses to cut back on spending.

Higher unemployment could lead to a downward spiral, as laid-off workers are more likely to fall behind on mortgage payments and other debt. Those who remain employed also may become more conservative in their spending.

“Beauty Trend of the Week Full on Black Eyeliner”

Beauty trend of the week full on black eyeliner. The full on black eyeliner look was super hot on the runway and was seen everywhere in smoky, cat and dramatic looks. Its hard to go wrong with black eyeliner since it can be created with pencil, liquid, gel, or pen.

Here’s how to get this hot fall look. Start off subtle and line the bottom of your lashes first.
Then stand back and build until you find the look you like. This is the best way to get the perfect full on black eyeliner look since you’re building on your look instead of drawing a thick flawless line in one attempt. Which is basically impossible to do. Always start thin and then trace over it for more intensity. Make sure that with a bold liner that you are keeping the rest of your makeup neutral. Unless you don’t mind adding more eyeliner to balance out the drama.