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New hope or new headaches on Wall Street this week?

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It's a new week on Wall Street and the question is will it generate new hope or new headaches for the Dow -- which took such a beating last week. With investors hoping the market will bounce back from last week's nearly 600-point loss. Monday's opening bell rang out like a wakeup call, with traders hopeful to subdue their caffeine-like jitters and ingest a shot of confidence instead. Jefferies & Co. Chief Market Strategist Art Hogan said, "We tend to overdo it. We're going see that we've created a lot of bargains, and cooler heads will come back into this marketplace. In the wake of the Dow's worst week in five years, a new report this morning reveals new trouble in the housing market." The most recent figures show foreclosures surged in the first half of this year with more than 925,000 filings from January through June. That's one foreclosure for every 134 households -- an increase of 55 percent from the same time last year. That news was compounded by concerns about a struggling corporate credit lending industry. Hogan said, "Perhaps a lot of the deals that have been announced or the deals that are pending might not get done because it's too difficult to get that money borrowed. Not even Friday's news that the US economy grew at a faster-than-expected rate was enough to get the bulls charging." But despite a loss of more than four percent last week, the stock market is still positive for the year. Just a week before the nosedive, investors were celebrating the 14,000 milestone. There's much going on in the market this week, several big companies will announce company earnings, auto sales data is coming on Wednesday and the job report will be released Friday.

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