More Pain in Store for Restaurants

Unless you've been living under a rock for the last few days, you probably know the stock market is focused on the "fiscal cliff" and what it may or may not mean. That, of course, hinges on whether Washington's left and the right come together to hammer out an acceptable deal. Given the history we've witnessed over the last few years, this is what we call "a show-me story" in the eyes of the stock market. In other words, not only will we not believe it until we see it, but it really depends on what the deal ultimately comprises. 

As I wrote in my most recent Week Ahead piece, between now and the point when a prospective deal is made, companies will hope for the best but plan for the worst. That means freezing spending and hiring, planning for job cuts and revisiting forward-looking forecasts. As the "fiscal cliff" makes the rounds in financial and mainstream headlines and becomes the topic du jour of the talking heads, consumers will view that as a warning and with a healthy dose of fear. Much like the stock market, consumers are not fans of uncertainty, and odds are that this means the overall group will pare back spending near-term. ...373 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.