Asian markets jumped to eight-month highs Monday on expectations of a global economic recovery even as General Motors prepared to file for a historic bankruptcy protection.  A third successive rise in Chinese manufacturing also raised hopes that the worst of the economic crisis is over.  The Shanghai Composite Index in Mainland China jumped 3.4% as the country's official purchasing managers' index for May fell to 53.1 from 53.5 in April.  Hong Kong's Hang Seng surged 4% and the Nikkei added 1.6%.

Following the overseas gains, US stock futures suggest Wall Street is headed for a higher open.  Dow Jones industrial average futures rose 1.2% to 8,586. Standard & Poor's 500 index futures jumped 1.4% to 930.50, while Nasdaq 100 index futures gained 1.1% to 1,451.50.       

On Friday, a late-session rally pushed U.S. stocks to their biggest three-month run since 2007, as commodities recorded their highest monthly advance

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Market fundamentals have deteriorated and Wall Street analysts’ “Sell” recommendations have piled up faster than redemptions at a long/short equity hedge fund. However, this newsletter is all about the rebound. The old saying, “You should be buying when everyone is selling,” has never been more true, and with the steep discounts of major steel producers, U.S. Steel Corp. [X: 30.73, +1.24 (+4.20%)] provides an excellent opportunity to get ahead of the crowd and buy into a sound business for a fraction of its value.

Steel production, like copper, is the backbone of all economic expansion and economists often monitor its consumption as an indication of industrial growth. During 2007, a growing appetite from BRIC nations caused a record climb in spot prices. This movement was an impetus for capacity buildup among many players in the industry during which steel flat-rolled products peaked above $1,000 per ton (currently trading

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U.S. stocks rose on Thursday as investors bet the U.S. economic downturn may be easing following reports on fourth-quarter economic growth and weekly jobless claims that landed roughly in line with expectations.

Standouts in the broad run-up included shares of Best Buy , up 11.3 percent to $37.24 after the electronics chain’s quarterly profit topped estimates and its yearly outlook boosted optimism about consumer spending.

Retailer Wal-Mart Stores Inc was among the top boosts on the Dow, rising more than 2 percent to $52.88, while the S&P retail index gained nearly 5 percent.

Shares of natural resources companies rose along with higher commodity prices. Shares of steel maker Nucor rose 5.6 percent to $41.25 and U.S. Steel Corp was up 5.9 percent to $24.86.

“Obviously the tide is shifting. We’ve gone from every piece of news being incrementally bad

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United States Steel Corporation (X) is a leading steel manufacturer in the U.S. However, rising supply from China, low demand from the automotive and residential sector and rising commodity and labor costs lead us to rate the stock a Hold with a six-month target price of $30.00.U.S. Steel Corp. reported fourth quarter 2008 net income of $308 million, or $2.65 per diluted share, compared to fourth quarter 2007 net income of $35 million, or $0.29 per diluted share. Fourth quarter 2008 net income was increased by $76 million, or 65 cents per diluted share.Despite improving profitability and cash flows, there are several challenges in store for U.S. Steel. China's steel output has outpaced demand, causing excess supplies and depressing global steel prices. If the trend continues, it would severely impact the company's bottom-line growth. In addition, U.S. Steel's domestic flat product volumes will suffer ...

Pack your bags, folks - “There’s no more Wall Street.” That’s the damning verdict from Alan Greenberg, former CEO of The Bear Stearns Cos. Speaking on Bloomberg TV’s “Money and Politics” show, Greenberg declared that the existing Wall Street investment-banking model is dead.

I’m not sure about death, but the broader U.S. economy is like a 2:00 A.M. drunk, continuing to stumble towards the end of a mind-altering 2008, with little long-term relief in sight. Will it ever find its way home again?

One of President-elect Barack Obama’s most ambitious and large-scale plans quite literally seeks to dig America out of this mess – and here’s how you can profit, too. But you’d better act fast. Some of Wall Street’s big boys are already placing their bets.

The Eisenhower Model

Obama will take the oath as 44th president of the United States on Jan. 20.

Since his Nov. 4 victory, the

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