While the New Year has arrived, it seems that markets will be starting the New Year with reports on the economy in the United States. This could be a major help for the United States and could also take away a lot of the focus on the current crisis in Europe.

The employment report from December is the most important report of the year. The sales and employment reports are even critical for chain stores and especially for auto makers and companies. Reports will also provide people with a look inside of business activity and how many people are being hired to work particular jobs.

A global market strategist for BTIG, Dan Greenhaus, has said, “The employment report comes out Friday and everything else takes a back seat to that.” He also says, “It’s always the most important indicator from an economic standpoint. I would argue it’s even more so because you have a number of indicators suggesting the job market has been picking up, and if that’s the case it’s going to be reflected in the jobs number.”

The stock market, on the other hand, left 2011 on a not-so-great note. Dow finished off the year of 2011 with a gain of 5.5 percent but both S&P 500 and Nasdaq dealt with their first declines on a yearly basis since 2008. The loss at S&P was not very high but the loss for Nasdaq was at 1.8 percent for the entire year. However, while there was a decline S&P and Dow both had a great quarter, one of the best quarters they have had since 2009, when the economy was in turmoil.

There are quite a few challenges that the United States will face as it enters the year of 2012. Many investors are watching the Europe’s sovereign debt auctions and are prepared to watch the meeting on January 9^th, between two leaders, one from France and the other from Germany. Because Europe has had major trouble dealing with their debt crisis, the crisis has definitely taken a turn for the worst within the financial markets.

With data for the United States coming it, many markets are hopeful because any improvements could be a good sign. However, it is believed that the economy in the United States will actually slowdown in its pace. Economists for Goldman Sachs believe that the rise in oil prices will actually prevent some growth for the economy in the United States. Aside from the rising price of oil, the impact from Europe and its current debt crisis could also take a small percentage off of the growth for the United States in 2012. As of right now, predictions are made but no one knows for sure how the economy will truly be for the year of 2012.