SLUGGISH WORLD ECONOMIC GROWTH

The world economy will grow by just 3.5% in 2015, and by 3.7% in 2016, according to the latest estimate from the International Monetary Fund. One bright is the United States: The IMF revised its estimate for U.S. economic growth to 3.6% this year.

World economic growth remains limited. Even drastically lower oil prices will have limited impact on stimulating the overall economy. New factors supporting growth -- lower oil prices, but also depreciation of euro and yen -- are more than offset by persistent negative forces.

Russia is expected to be among the hardest hit nations, with the IMF predicting a 3% contraction this year, followed by another 1% decline in 2016. China, the world's second-largest economy, will continue its slowdown, with growth hitting 6.8% this year and 6.3% next year.

The IMF said growth could be stronger than forecast if lower oil prices deliver a greater boost than assumed. Growth could take a hit if volatility spikes in emerging markets.