You know the Sesame Street song: "Can you tell me how to get... how to get to the UNEMPLOYMENT OFFICE?"

First Wall Street, then Main Street, now Sesame Street. The children's tv icon will lay off 20 percent of its workers - 67 people - and the pain will be shared across all departments. The week has brought job cuts not only for children's television, but also United Technologies, McClatchy newspapers, 616 lawyers at two major law firms (yes, inviting all sorts of tasteless lawyer jokes) and Dell confirms it is cutting positions worldwide but won't say how many or where. (Why the mystery, Dell?)

Government data show four states now have unemployment rates topping 10 percent. Long-suffering Michigan tops the list with an incredible 11.6 percent. Many economists expect these numbers to keep rising. Here's the bright spot for the morning: A little more than a dozen states have jobless rates 6 percent or less (WY, ND, IA,UT, OK to name a few) and Texas' jobless rate is 6.4 percent, much better than the 8.1 percent average for the rest of the country. If you are living in any of these places, we can only hope that you're feeling a little better about things than the national statistics suggest.

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What a rally! From a 12-year low to the best surge of the year for stocks Tuesday. But what happens next? We looked at the charts and found five rallies this year before Tuesday of 200 points or more. Each time, the Dow fell the next day. Two of those times, falling by triple digits. What that tells us, is this market has had a hard time holding onto those gains.

But some chart-watchers say the selling has been so relentless over the past three weeks, the market is ready for a true “bear-market rally.” But make no mistake: any true recovery in stocks doesn’t happen until the banking system gets fixed, confidence returns and lending frees up. We are not there yet.