With the Dow edging back toward 13,000, will 2012 be a bull year? That depends largely on Europe, said Bob Doll, vice chairman and chief equity strategist for fundamental equities at Black Rock at the annual economic forecast breakfast of the Executives Association of Fort Lauderdale.

As long as the Eurozone avoids complete implosion, its effect on the U.S. economy will ease, Doll said. And if Europe does continue to “muddle through,’’ the U.S. will do the same, likely racking up 2-2.5 percent growth in GDP.

Other predictions:

Growth in China and India will continue, but at a somewhat slower pace than in recent years. U.S. company earnings will grow modestly but will fail to exceed analysts’ estimates. Treasury rates will rise as long as the economy gets “less bad news.’’ Housing prices will continue to ride the long bottom that began in May 2009; the Federal Reserve will avoid another quantitative easing unless the economy appears to suffer a major setback. U.S. stocks will outperform non U.S. stocks; dividends and stock buy-backs will hit record highs, and the healthcare and energy sectors will remain winners.

As for that vexing question, how will the fall’s presidential election affect the stock market, Doll said historically the markets perform the same whether a Republican or Democrat is in the White House. “No matter who gets elected,’’ he said, “we’ll get a decent reduction in the rate of government spending.’’

His advice: Keep investments overweighted in U.S. stocks.

Jane Wooldridge