- Economic growth: Most observers are more cautious regarding domestic growth today, even though the recovery's breadth is better -- employment has improved, and there is a nascent recovery in the residential real estate markets.
- Profits: Corporate profit momentum has turned positive -- the first-quarter beat was by over 500 basis points.
- Housing: The outlook for housing is markedly improved. Household formations are recovering from the depths of the recession, the NAHB index and buyer traffic are at five-year highs while inventories of unsold homes are at five-year lows.
- Household health: Consumer deleveraging is advanced -- household debt/GDP is back to trend line levels.
- Employment: Indicators are improved relative to a year ago. Claims are lower -- ISM employment components are consistent with monthly private payroll gains of about 200,000; take out 20,000 government job losses, and you come out with monthly jobs growth of approximately 175,000 to 180,0000.
My 'Fast Money' Recap
May 09, 2012 | 12:00 PM EDT
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