KEY DATA: CoreLogic (monthly): +2.1%; Year-over-Year: +10.5%/ISM (Manufacturing): +0.5 points; Orders: +1.8 points; Employment: -1.9 points
IN A NUTSHELL: "Housing price increases remain pretty solid and with the economy improving, we should see sales continue to rise."
KEY DATA: Durables: +0.8%; Excluding Defense: -0.8%; Business Investment: -1.2%/ Consumer Confidence: up 1.3 points
IN A NUTSHELL: "Confidence is rising and coupled with solid goods orders and growing backlogs, it looks like growth is indeed picking up."
INDICATOR: April New Home Sales
KEY DATA: Sales: up 6.4%; Median Prices (Year-over-Year) down 1.3%
IN A NUTSHELL: "Despite the improvement in the new home market, it cannot be said the housing market is recovering a whole lot from the winter wipeout."
INDICATOR: April Existing Home Sales, Leading Indicators and Weekly Jobless Claims
KEY DATA: Home Sales: +1.3%; Leading Indicators: +0.4%; Claims: 326,000 (up 28,000)
IN A NUTSHELL: "Warmer April weather has not been the tonic that realtors hoped for but it still looks like growth will accelerate going forward."
INDICATOR: April Housing Starts and Permits
KEY DATA: Starts: up 13.2%; 1-Family: up 0.8%; Permits: up 8%; 1-Family: up 0.3%
IN A NUTSHELL: "We have been looking for signs that the winter weather was the cause of the economic discontent and the sharp increase in home construction seems to argue that was the case."
INDICATOR: April Retail Sales and Import Prices
KEY DATA: Sales: +0.1%; Excluding Vehicles: 0.0%/Import Prices: -0.4%; Excluding Fuel: 0.0%; Export Prices: -1.0%; Farm: +1.4%
IN A NUTSHELL: "Consumers paused in April, but with the weather improving and prices under control, that could change very quickly."
INDICATOR: March Trade Deficit
KEY DATA: Deficit: $40.4 billion ($1.5 billion narrower); Exports: up 2.1%; Imports: up 1.1%
IN A NUTSHELL: "Growing exports are another sign that the economy is really starting to accelerate."
INDICATOR: April Employment Report
KEY DATA: Payrolls: +288,000; Private: +273,000; Unemployment Rate: 6.3% (down 0.4 percentage point)
IN A NUTSHELL: "It is clear that firms are hiring again but we still need wages to rise faster if the economy is to really accelerate."