more-arw search

Market Analysts See Light at the End of the Tunnel

Global markets around the world improved with news of a possible European debt solution.

Recent improvements in stock markets worldwide have some claiming that economic stability may be sustained, but others are less sure.

"What we see now is a manageable restructure of Greek finances, the U.S. although not racing ahead, growing about two and a half percent," Greg Bundy, of AIMS Finance, said in an interview with CNBC earlier this week. He also said it was a mistake to add in the potential for "hard landing in China," a double-dip recession in the U.S. and Greece defaulting on its debt when considering the markets.

Others have also pointed to GDP growth in the U.S. as a positive sign that the global economy may finally be turning around, the source reports.

Last week, markets around the globe rallied after news that European leaders had come to an agreement on how to manage the debt crisis. As Zacks notes, that initial euphoria was quelled as doubts popped up about whether the strategy would be effective. The week closed out "on a flat note," but still, markets made gains for the fourth week in a row "and looked en route to posting the best monthly gains in decades."