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Europe Had a Recession And No One Cared

Europe has not been the model of economic health for a couple decades. The best of times looks like +1% GDP. And the rest of the time is at stall speed or a recession.

The sad fact is that Europe just doesn't matter that much anymore to the US economy and stock market. That is why Thursday's news of a greater than expected contraction of -0.6% was met with US shares still moving up to yet another high.

To be clear, I am not saying that Europe doesn't matter at all. Most certainly a deep recession or debt implosion would spell troubles here in the States. But we can easily weather the mild to medium recession they are experiencing now.

Today brings a set of 3 US economic reports (Empire State Mfg, Industrial Production, and Consumer Sentiment). The tidings within those announcements will have much more bearing on the US market then what is happening across the Atlantic.

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Bull & Bear of the Day

Zacks Rank #1 Strong Buy

First Interstate BancSystem, Inc. (FIBK)

With strong earnings momentum, a solid 3.0% dividend yield and very reasonable valuation, this bank offers a lot to like.


Zacks Rank #5 Strong Sell

Monro Muffler Brake, Inc. (MNRO)

In addition to negative earnings momentum and a low Industry Rank, this auto repair and tire company looks a bit pricey too.

Stock Picking Strategies

A Relative Price Strength Screen for Beating the Market  ››

Post-Rally, Stocks Still Undervalued  ››

Ahead of Wall Street  ››

Funds Commentary

Top 5 Zacks #1 Ranked Balanced Funds  ››

Inside First Trust's New Preferred Securities ETF (FPE)  ››

ETF of the Week: Industrial SPDR (XLI)  ››

Options Strategies

Did You Listen To Warren Buffett's Advice In October 2008?  ››

Video Reports

Low Expectations Drove Q4 Earnings Surprises

The Q4 earnings season was good enough because expectations were so low.

This Week?s Growth & Income Stocks (K) and (ESS)

Headline: Low Expectations Drove Q4 Earnings Surprises Teaser: The Q4 earnings season was good enough because expectations were so low.

A Bit of Market Consolidation?

Zacks strategists weigh in on whether the market needs a breather before moving higher.


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