• Fed takes major steps to loosen money supply
• U.S. data show growth still slowing, inflation in check
• Nissan to sell $1.3 billion in auto-backed debt
• IMF, OECD cut growth forecasts
• BOJ boosts bond purchases

U.S. stocks and Treasuries gained ground this week as investors cheered the U.S. Federal Reserve Board’s plan to buy $1 trillion of bonds in an effort to lower consumer borrowing costs and bring an end to the recession. The upward equity move was blunted by week’s end as the Fed’s plan rekindled concerns of inflation, and those worries drove the dollar sharply lower and the price of gold higher. Read the rest of this entry »

• Global stocks rally as banks announce profits
• World finance ministers gather to find ways to battle recession
• U.S. retail sales show stabilization
• Madoff jailed
• GE, Berkshire Hathaway downgraded
• Brazil and Switzerland cut rates

Market optimism returned in full force this week after Citibank, Bank of America, and JPMorgan Chase said they made money during the first two months of the year. Around the world, stock markets rallied on hopes that stability was returning to the financial sector. Citibank kicked off the markets’ rise when it said it was having its best quarter since 2007. The news sent the Dow Jones Industrial Average up 379 points Tuesday, thereby kicking off a week of gains. Read the rest of this entry »