At the end of the day, as they say, economic stagnation cannot bode well for business profits and future stock price growth.
The US and Europe are mired in a sinkhole of their own creation. The US has regulated itself out of any hope of real economic progress. The bureaucrats and the wealthy will do fine, but everyone else is left to fend for themselves with a declining economic pie. This has been case for decades in Europe.
There are potentially catastrophic winds on the horizon. Debt is the problem. The massive wealth transfers that are now built into US and European fiscal policy are unsustainable and will prohibit any future economic growth of any substance.
The stock market, near its all time highs, is not a buy.