Another depressing Monday

Every thing looks gloomy. Every where i look, it seems negative.
I am really in the dark here. I don’t know how to describe it. I guess all the experts in the world failed to predict what is going to happen. I am so disappointed that AIG reverse split to 20 to 1. I am really sad; I have quite a few dollars stuck with this stock.
DOW and TSX is keep sliding down and I don’t know why. It will go up at some point but who knows when. We gotta survive this. There is a bunch of bad news stacked up together. I hope within the next week, I will see some lights.

- A federal judge over the weekend approved the sale of almost all of General Motors Corp.’s assets to NGMCO Inc.
NGMCO is a company funded by the U.S. Department of Treasury.
In connection with the sale, the company will change its name to General Motors Co.; be led by Fritz Henderson as president and chief executive officer and Edward Whitacre Jr. as chairman; and continue operations out of Detroit.

- NEW YORK (CNNMoney.com) -- Stocks tumbled Monday morning, as weakness in overseas markets and tumbling oil prices added to concerns about the length of the recession.
The Dow Jones industrial average (INDU) fell 70 points, or 0.9%, over an hour into the session. The S&P 500 (SPX) index lost 10 points, or 1.1%, and the Nasdaq (COMP) fell 26 points, or 1.4%.
Stocks slipped Thursday in the last session of a holiday-shortened trading week after a weaker-than-expected jobs report fueled worries about the economy. All financial markets were closed Friday for the Independence Day weekend.

- URUMQI, China – Riots and street battles killed at least 140 people in China's western Xinjiang province and injured 828 others in the deadliest ethnic unrest to hit the region in decades. Officials said Monday the death toll was expected to rise.
Police sealed off streets in parts of the provincial capital, Urumqi, after discord between ethnic Muslim Uighur people and China's Han majority erupted into violence. Witnesses reported a new, smaller protest Monday in a second city, Kashgar.

- MOSCOW – President Barack Obama and Russian President Dmitry Medvedev struck a preliminary deal Monday to reduce their nations' stockpiles of nuclear warheads to as few as 1,500 each, pointing their arsenals toward the lowest levels of any U.S.-Russia arms control agreement.
The document signed by the two leaders at a Moscow summit, Obama's first in Russia, is meant as a guide for negotiators as the nations work toward a replacement pact for the START arms control agreement that expires in December. The joint understanding completed by Obama and Medvedev, signed after about three hours of talks at the Kremlin, also commits the new treaty to lower longer-range missiles for delivering nuclear bombs to between 500 and 1,100.
- Oil prices plunged nearly $3 to below $64 a barrel Monday as dismal unemployment figures from the U.S. and Europe last week sparked investor doubts about any nascent economic recovery.
By midday in Europe, benchmark crude for August delivery fell $2.97 to $63.76 a barrel in electronic trading on the New York Mercantile Exchange. It last settled on Thursday at $66.73.
Trading was closed in the U.S. on Friday for the Independence Day holiday.
Oil has tumbled from an eight-month high above $73 a barrel last week after gloomy U.S. consumer confidence and jobs numbers fueled doubts about a rally that has doubled the price of crude since March.

Hope we all have a good week.