Mmmm, a U2 fan eh? I love playing U2 stuff, I have a squier Strat at the moment, which is a great guitar for the money, it's versatile, I play blues jazz, and harder rock, and has a good feel. Problams are probably the action, but I don't play lightning fast runs anyway so it doesn't affect me much. Also, they are constructed with less quality than a standard strat, which is why they are so much cheaper. If you have only being playing for a little while then I think a squier is a great choice, especially as it is versatile, so as you find your style you will be able to adjust before forking out for a more specialised guitar. I'm looking at a deluxe strat now, with vintage noisless pickups which I would love, but they are sooooo expensive.
By the way, you should think about getting a delay pedal, then you will be able to easily reproduce anything from Streets have no name to Discotheque and Beautiful Day.