GM expected to be removed from Dow Jones

WALL Street faces a historic shake-up this week as General Motors, one of the former icons of American industry, heads into bankruptcy.

Stock markets, on a bit of surge in recent months, may not be cowed by the demise of GM however and there is optimism for further gains, provided upcoming data suggests the worst of the recession has passed.

Stocks could also get a boost if commodity investors see more signs of a recovery in demand as it would boost profits and share prices of resource companies, and particularly the oil industry.