But before investors enjoy the benefit of the expense cuts, and after the inevitable and stupid last-minute debt-ceiling debate drama in Washington, the focus will be on the next round of Federal Reserve bank stress tests, which will end in March.

FORBES: Big Banks: Fiscal Cliff Deal Winners

And we simply asked BP a series of questions that we felt -- wanted to know the answers to prior to Admiral Allen and the federal on-scene coordinator signing off on these pressurization tests.

WHITEHOUSE: Press Briefing

John Koskinen, chairman of the President's Council on Year 2000 Conversion, was unaware of the FAA's proposal but said the FAA would conduct tests on Jan. 1 just like every federal organization to make certain that there are no disruptions.

CNN: Airports resist new Y2K tests

The renewed confidence in the U.S. banking sector after the well-received "stress tests" results and the Federal Reserve's upbeat remarks on the U.S. economy Tuesday, together with stronger U.S. economic indicators of late have helped to keep the upside momentum in for stock markets.

WSJ: European Stocks Gain

Tests have taken on increasing importance in U.S. education since the federal No Child Left Behind became law in 2002.

WSJ: Seattle Teachers Protest Exams