Wall Street is looking to end the week on a positive note after two straight days of losses spurred by rising unemployment numbers and fading hopes for an auto industry bailout.

The Dow Jones industrial average opened in positive territory – spurred by a report that Citigroup might put itself up for sale.

Stock futures were up on the possibility that low prices will draw in bargain-hunters after the Dow dropped nearly 11 percent over the past two days.

The Dow Jones industrial average closed down nearly 450 points yesterday, bringing it to its lowest level since March of 2003.

"I think no one has any idea how bad things are. They are furiously trying to guess and people are in a frantic mood and frantic people do dramatic things," said Aaron Elstein, a senior reporter at Crain's New York.

Elstein said he sees unprecedented conditions on Wall Street and beyond.

"The consumer is tapped out," continued Elstein. "They're not spending at Macy's or at the car dealer or anywhere else. There are massive layoffs at just about every company that I cover - JPMorgan, Citigroup, Goldman Sachs."

Even Mayor Michael Bloomberg admitted on his weekly radio show today that troubled banks indicate trouble to come.

"The banks wont go out of business but they took the rest of the market down," said the mayor.

It comes as Congress refused a $25 billion rescue plan for General Motors, Ford and Chrysler. Democrats said they would not consider the measure until the companies produce a plan for rebuilding the collapsing industry.

This morning, President George W. Bush signed a bill passed by Congress extending unemployment benefits through the holiday season.

The Labor Department said yesterday claims for unemployment have reached their highest levels in 16 years.

More than 10-million Americans are now looking for work.