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Small banks still owe $11 billion of taxpayer money under TARP, and the government is threatening to unload its stakes in them at big discounts to new investors. Nearly four years after Washington bailed out Wall Street, small banks have yet to repay $11 billion of taxpayer money.

News that European leaders will take action aimed at quelling the debt crisis that has been plaguing the continent for more than two years unleashed a global rally that sent U.S. markets roaring more than 2% higher. However, Wall Street still capped the second quarter in the red.

Stocks advanced on Tuesday, putting the S&P 500 on track for its fourth straight gain on increased hopes for central bank stimulus measures ahead of the Federal Reserve's policy meeting.

Concerns over a slowdown in the world's biggest economies hit world markets on Friday, with weak indicators out of China and Europe's financial turmoil unsettling investors ahead of a crucial U.S. jobs report.

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified.

Stocks are pulling back sharply on Wall Street as investors get their first chance to react to a slowdown in hiring in the United States in March. The Dow Jones industrial average dropped 152 points to 12,908 shortly before noon Monday. The Standard & Poor's 500 index was off 18 at 1,380, and the Nasdaq composite lost 36 points to 3,044.

Wall Street took a drubbing Wednesday as investors worried that the Federal Reserve might not be willing to pump more money into the U.S. economy.

Wall Street closed out its strongest quarter in nearly three years Friday, leaving investors wondering if the market can continue to deliver strong gains in the weeks and months ahead.

The Obama campaign, in its push to remind voters why they cast their ballots in 2008, is releasing a documentary that plays up the president's accomplishments. The two-minute trailer is for the documentary, "The Road We've Traveled," which takes a look back on President Obama's first term, from the collapse on Wall Street to the fight over health care. "Road," which is narrated by Tom Hanks and directed by Davis Guggenheim, who helmed the Oscar winning environmentalist documentary, An Inconvenient Truth. "Road" will be shown at Obama campaign events next week.