Good News, Eurozone | featured news

The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, the IMF said on Sunday.

The euro zone is showing tentative signs of improvement, the latest monthly readout from the Organization for Economic Co-operation and Development (OECD) showed on Monday.

U.S. stock futures are back up near Wednesday's opening price this morning as investors continue to focus firmly on Italy. Yesterday the Dow dropped almost 400 points as Italian bond yields surged past the 7% mark that is seen as the point of no return. At a time when the country has a lot of debt to refinance, borrowing costs are seen as unsustainable.

Stocks jumped more than 2 percent at the open on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.

Stocks rose on Thursday after the European Central Bank launched fresh liquidity measures to help banks weather the euro zone's debt crisis, easing one of the major concerns overhanging markets.

Stocks rose on Thursday after U.S. economic data came in stronger than forecast and Germany's lower house approved new powers for the euro zone's crisis fund.

U.S. stocks rose as optimism rose over the upcoming earnings season and confidence in the global economy strengthened after European leaders pledged to extend aid to Greece.