Markets start the New Year with a fresh wave of reports on the U.S. economy and that could temporarily help turn the focus away from Europe.

The market loves big deals, which offer a signal of confidence to investors. The problem for activity in early 2012 is that companies require confidence more than ever before pulling the trigger on transactions.

While U.S. drivers continue to cut back at the pump, refiners are increasingly sending more gasoline and diesel fuel overseas, making the U.S. a net exporter of refined products for the first time in more than a half century.