I think that the market is reacting well because it believes that more bailouts are coming, and the stock market(s) loves this crazy liquidity. Money can be printed by central banks (just ask bubble Ben!), but company stocks can't (supply and demand). But if Greece defaults, (and I think it will, at least partially), there could be some serious sell-offs and consequences
I don't think so. It's not always like what's bad for one will be better for one. It does affect the US but not entirely good though..
if trouble in EU is actually good for US, than US market should go down next week now that Greece is bailed out, right? alternatively, one could argue that the bailout has not fixed anything. so we still have weak EU and, hence, stronger US.