Economic growth in Germany, France, Italy and Spain exceeded expectations at the start of the year, and likely interest-rate cuts from the European Central Bank are seen bolstering prospects for a still-fragile euro zone.
In the US, the closely watched jobs report pointed to moderating labor demand and slower wage growth. That should help temper stubborn inflationary pressures, which explains why the Federal Reserve kept rates unchanged this week and signaled they may stay higher for longer.