U.S. Treasury Sec. Geithner said GMAC will receive "substantial support" from the U.S. government.
A drop in U.S. jobless claims and better German manufacturing data gave a sense the economic slump is bottoming out.
The government ordered Morgan Stanley to raise $1.5 billion after its stress test showed the need for a capital boost.
The Federal Reserve unveiled results of its much-anticipated banking sector stress tests.
U.S. retailers reported better-than-expected monthly sales figures for a second straight month in April
Slowing U.S. job losses and good news from Europe's service industries show the global recession may be easing.
Federal Reserve Chairman Ben Bernanke told Congress the three-year U.S. housing bust may be near a bottom.
British consumer morale hit a two-year high as people sensed the worst of the recession may have passed.
The trade deficit with China and on oil and automotive products are simply bankrupting the country.
The Federal Reserve said Wednesday the pace of deterioration in the U.S. economy appeared to be slowing.