Chaos reigns Friday: Lame-duck White House and Congress are unable to reach a decision on the financial crisis. Yet Citigroup stock inched up, despite misgivings over the CEO's determination not to break up the firm. And while legislators dither over the jet-setting Big 3 automakers' fates, one strategist told CNBC that Ford Motor stock could yet quadruple overnight. (You read that correctly.)

As the Dow opened to the upside on Friday, Jack Welch, former General Electric chairman & CEO, shared his insights on Detroit, the economy and Wal-Mart's new CEO.

Richmond Federal Reserve President Jeffrey Lacker said it was reasonable to expect the U.S. economy to reverse its downward track some time in 2009, and warned of inflation risks in any rebound.

Euro zone services and manufacturing business activity sank much further and faster than expected in November to record lows, pushing some economists to call for larger rate cuts from the European Central Bank.

Japan slid into its first recession in seven years in the third quarter as the financial crisis curbed demand for Japanese exports, and the economy minister and analysts offering a bleak outlook for the economy.

Australia is in a good position to defend itself against the global economic crisis despite a bleak report that forecasts a possible recession in 2009, according to the central bank chief.

The Big 3 U.S. automakers may have reached a bailout compromise Thursday — or not. Citigroup shares hover near $5, even after mega-investor Saudi Prince Alwaleed bin Talal said he'd boost his Citi stake to 5 percent. Strategists told CNBC to expect more volatility — and no bottom for months yet.

Federal Reserve officials have pared their outlook for economic growth through 2009 to minimal levels and are prepared to cut interest rates further, while concern has risen that a deflationary spiral may take hold.

Australia is in a good position to defend itself against the global economic crisis despite a bleak report that forecasts a possible recession in 2009, according to the central bank chief.

Japan's exports logged their biggest annual decline in seven years in October, pushing the trade balance into deficit and reinforcing worries the global financial crisis may push the economy deeper into recession.

Stocks plunged to a more than five-year low amid worries about the fate of the auto industry — and the economy — as a bailout for the sector grows increasingly unlikely.

Cuts to interest rates may not be enough in and of themselves to boost the economy, Pimco's Bill Gross said on Wednesday.

Fed officials slashed their growth forecasts through 2009 and hinted that further interest rate cuts may be necessary, minutes of the October meeting show.

Things look worse for GM, Ford and Chrysler Wednesday as Congress seems less likely to approve a $25 billion automaker bailout. Stocks slipped — but some analysts say that slide had little to do with the Big 3. CNBC canvassed the experts, who foresee plunging oil prices, a stronger dollar — and say the market has already bottomed (!).