The worst thing that can happen to Europe now is that everything goes perfectly.

Bernanke emerges as a hawkish bulwark on the FOMC: if not for him, we'd have QE3 now.

Spain is Europe's post-crisis laggard. If reform is sustained, it can catch up.

...without Apple, S&P 500 forward earnings wouldn't be at new highs -- they'd be off 2.4%.

The honeymoon is ending for Monti and Rajoy, as labor reforms get politically difficult.

Apple mattered to Q1 performance -- but it says nothing about valuation, or faster growth.

The ECB stands pat -- apparently markets will just have to wait to see if LTRO worked.

At last a correction in stocks, and in the belief that the labor market has turned the corner.

Spanish fears take the forefront, but it's just part of Europe's painful equilibrium.

Forward EPS at new highs, with no Apple. Stocks are getting to be a value play again.