ECONOMY & MARKETS

In a stunning move, China's trade balance fell to a deficit of $31.5 billion in February from a surplus of $6.5 billion in January, according to data in multiple media reports on Saturday -- and the country's trade deficit may be its largest in the 21st century.

After the devastating 3/11 earthquake, tsunami, and nuclear catastrophe, the reconstruction efforts to get under way in earnest this year will boost Japan’s gross domestic product, but this does not mean the country will be any better off, according to a report by research consultancy Capital Economics.

The economic picture got considerably messier this week, as positive data on job creation battled with gasoline-price-fueled inflation concerns in economists', policymakers' and consumers' minds. Joyous declarations that the economy is finally getting better have turned into more studious critiques of how the incipient recovery is actually affecting poor, working-class and middle-class people.

The week ahead -- March 12 to March 16 -- will feature the Federal Open Market Committee meeting and three inflation reports for February: import prices, the producer price index (PPI) and the consumer price index (CPI).

U.S. employers extended their hiring spree last month and Greece finalized its $234 billion bond swap. Nevertheless, investors' risk appetite jumped, sending global equities higher, cutting bond prices and boosting commodities.

The International Swaps and Derivatives Association decided Friday that Greece’s debt swap was a restructuring credit event. Its decision triggers payouts on almost $3.2 billion of credit default swaps -- insurance-like contracts aimed at protecting creditors from loss.

Leaders of China and India, two of the world's biggest economies, are responding to a decline in their nation's blistering rates of growth by focusing on virtually identical ways to stimulate bank lending and regain financial momentum.

German exports rose 2.3 percent in January, driven by increased activity in all sectors of the economy, the German Federal Statistics Office, Destatis, said Friday.

Wholesale businesses increased their inventories less than economists had expected in January, as firms across the U.S. sought to manage their supply chain in the face of weaker sales.

The U.S. experienced a trade deficit of $52.6 billion in January, an increase of $2.2 billion from December, according to a report by the U.S. Department of Commerce.

U.S. employers hired more than 200,000 workers for a third straight month in February, indicating that companies are feeling more upbeat about the recovery.

Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.

Indian stock markets surged Friday as sentiment was buoyed by the positive news of Greek PSI debt swap.

The top after-market NASDAQ Losers Thursday were: Green Mountain Coffee Roasters, SunPower Corp, Zogenix, Body Central Corp, AMAG Pharmaceuticals, Cowen Group, Openwave Systems, Cytori Therapeutics, ON Semiconductor Corp and Nuance Communications.

The top after-market NASDAQ gainers Thursday were: Home Inns & Hotels Management, Starbucks Corp, Microvision, Kratos Defense & Security Solutions, TiVo, Smith & Wesson Holding, Sonic Corp, Charm Communications, Entegris and American Capital.

The top aftermarket NYSE losers Thursday were: Aeropostale, Heckmann, Alon USA Energy, Armour Residential REIT, STMicroelectronics, Active Network, Texas Industries, Polypore International, MEMC Electronic Materials and Kronos Worldwide.

Fender Musical Instruments, the iconic company known for making guitars, has announced its plan for an initial public offering.

The top aftermarket NYSE gainers Thursday were: Renren, Cooper Companies, Chesapeake Midstream Partners, Diana Shipping, Emergent Biosolutions, Quiksilver, Hovnanian Enterprises, Quantum Corp, Genworth Financial and Canadian Natural Resources.

Citigroup Inc. Chief Executive Vikram Pandit received a total compensation of $14.9 million for 2011, which includes salary, cash bonus and deferred stock.

British factory output rebounds in first quarter and economy shows signs of recovery, according to survey by trade body EEF.

PC shipments will continue grow at a moderate rate particularly boosted by a new Microsoft operating system and new ultrabook models according to industry analyst firm Gartner.

Tokyo stocks jumped to a seven-month high Friday as Asian shares rose on signs Greece is a step nearer to averting a default, although momentum may be checked by caution ahead of U.S. data that is expected to confirm a labor market recovery.

The Canadian government blocked on Thursday an impending lockout and strike that would have paralyzed Air Canada, the country's largest airline.

Buy when there's blood in the streets is a Wall Street saying often attributed to Nathan Mayer Rothschild, a prominent financial operator from the 18th century.

The national carrier also faces a strike -- set for midnight Monday -- by mechanics, baggage handlers, cleaners and electricians.

Central bankers around the world took their foot off the loose monetary policy throttle Thursday and kept benchmark interest rates steady on inflation concerns and the lack of new threats to gross domestic product growth.

The options market's oil price forecast for 2012 is quite bullish.

U.S. 15-year fixed-rate mortgage declined to a new record low of 3.13 percent in the week ending March 8, according to Freddie Mac.

Germany's industrial output rose 1.6 percent in January, according to data released by the nation's Economy Ministry Thursday, beating expectations through a jump in construction and manufacturing output and raising hopes Europe's largest economy will bypass a recession.