FRENCH ELECTION RESULTS: A strong showing by Socialist candidate Francois Hollande in the first round of France's presidential election Sunday may rattle U.S. and global financial markets in the coming weeks.

HOLLANDE'S AGENDA: Hollande wants to renegotiate a European treaty, agreed to just last year, that is intended to limit excessive government spending. He wants the pact to emphasize growth over austerity.

COOPERATION THREATENED: If Hollande wins a second-round election to be held May 6, economists fear those steps would upset France's delicate cooperation with Germany that has been key to Europe's efforts to resolve its financial crisis.