The earnings season beginning today (Tuesday) is shaping up to be an important one, as it could have a significant impact on a struggling stock market rally.

There’s no question that the big “winner” in the global financial crisis has been China. While for the past two years developed economies have been scrambling to keep afloat China has taken a nuanced approach to achieving its economic and political goals.

Asian economies are recovering faster than previously thought and will lead the charge out of the worst global downturn since the 1930s, according to new forecasts by the Asian Development Bank (ADB) – a Manila-based institution that promotes economic and social progress in the Asia-Pacific region.

The number of traders betting that oil prices will drop outnumbers the number of traders who believe they will rise by the largest margin ever. Some analysts believe prices will fall significantly lower in the near future – at least into the low $60 a barrel range – after soaring to $75 a barrel in August.

Despite earlier this week announcing disappointing first-quarter results, Oracle Corp. (Nasdaq: ORCL) says it expects its second quarter will be stronger. However, many analysts are skeptical, as the company’s attempted takeover of Sun Microsystems Inc. (Nasdaq: JAVA) has not gone as smoothly as planned.

It was more than a year ago – Sept. 14, 2008 – that Lehman Bros. Holding Co. (OTC: LEHMQ) finally collapsed under the weight of its own bad investments.

U.S. Federal Reserve Chairman Ben S. Bernanke said yesterday (Tuesday) that the worst recession since the Great Depression is “very likely over.” However, Bernanke also said that unemployment would remain high and keep the recovery from accelerating.

With the announcement that it intends to build the world’s largest solar power plant, China is rapidly evolving into the world’s largest market for solar energy. And with heavy government backing, Chinese solar companies are quickly becoming global leaders.

The U.S. trade deficit expanded at its fastest pace in more than ten years in July, accelerated by rising oil prices and increased demand for auto parts and industrial supplies.