US has momentum but much hinges on eurozone

ON NORTH AMERICA

As markets continue to be buffeted by rapidly developing events that change on a day-to-day basis, investors are left to wonder where stocks may be headed from here.

The European debt situation remains the most important variable affecting the global financial markets. Concerns over Europe’s debt situation have been outweighing the positives coming from robust earnings reports and better-than-expected economic data as investors remain concerned over the possibility of a financial meltdown that could trigger a global economic slowdown or recession. Despite the ongoing fears, however, some progress is being made. The changes in government that have occurred in both Greece and Italy seem to be positive signs. New prime ministers Lucas Papademos and Ma...