Market Recap! US and World, the Fed, Real Estate and WTC

Dow Rallies to Highest Level Since 2007 on ISM Expansion in April at Fastest Pace #in 10 mos, up 0.5%; $SPX +0.6% http://www.bloomberg.com/news/2012-05-01/u-s-stock-futures-are-little-changed-before-factory-data.html #tcot

U.S. ignoring, or benefiting from, Europe misery: Euro-zone troubles aren’t hitting U.S. manufacturers http://www.marketwatch.com/story/us-ignoring-or-benefiting-from-europe-misery-2012-05-01?dist=afterbell #in #tcot

U.S. Manufacturing Growth picks up #in April http://www.marketwatch.com/story/us-manufacturing-growth-picks-up-in-april-2012-05-01?dist=afterbell March Construction Spending rebounds slightly http://www.marketwatch.com/story/construction-spending-rebounds-slightly-in-march-2012-05-01?dist=afterbell #tcot

Retailers’ sales expected to slow in April: Colder weather, timing of Easter likely hit sales, analysts say http://www.marketwatch.com/story/retailers-sales-expected-to-slow-in-april-2012-05-01 #in #tcot

Chrysler April sales soar 20.4%; GM -8%, Ford -5%; Volkswagen AG +30; Toyota Motor Co. +11.6% http://www.marketwatch.com/story/chryslers-april-sales-soar-fords-down-5-2012-05-01 $VLKAF TM #in #tcot

Mercedes Leads BMW in U.S. Sales for Year After 24% Gain; BMW +12% http://www.bloomberg.com/news/2012-05-01/mercedes-leads-bmw-in-u-s-sales-for-year-after-24-gain.html $DAI BMW #in #tcot

Fed members show reluctance to do more QE: Slew of Fed speakers suggest Fed stay on sidelines http://www.marketwatch.com/story/key-fed-member-backs-keeping-powder-dry-2012-05-01 #in #tcot

Greenspan: US Stocks ‘Very Cheap,’ Likely to Rise http://www.bloomberg.com/news/2012-05-01/greenspan-says-u-s-stocks-very-cheap-likely-to-rise.html The Fed will provide, it has no choice http://www.marketwatch.com/story/the-fed-will-provide-it-has-no-choice-2012-05-01 #in #tcot

Fed May Have to Tighten With Unemployment at 7% http://www.bloomberg.com/news/2012-05-01/lacker-says-fed-may-have-to-tighten-with-unemployment-at-7-.html Fed ‘Reckless’ to Allow High Jobless Rate http://www.bloomberg.com/news/2012-04-30/krugman-says-fed-should-allow-inflation-to-rise-above-2-goal.html #tcot

Obama Fails to Stem Middle-Class Slide He Blamed on Bush: Real median household income in March -$4,300... http://www.bloomberg.com/news/2012-05-01/obama-fails-to-stem-middle-class-slide-he-blamed-on-bush.html #tcot #GOP

Obama Fails to Stem Middle-Class Slide: @MittRomney - deficit spending, #hcr, tighter finance regs deter biz http://www.bloomberg.com/news/2012-05-01/obama-fails-to-stem-middle-class-slide-he-blamed-on-bush.html #tcot #GOP

Bonds Prove Only Winners for 1st Time Since 2008: Renewed concern for slower global econ, growing Eurozone deficits http://www.bloomberg.com/news/2012-04-30/bonds-prove-only-winners-for-first-time-since-2008.html #in

Dow Blossoms to Multi-Year Best Amid ISM Green Shoots: After $SPX 1,400, what's next?; VIX back below 40dma http://www.schaeffersresearch.com/commentary/content/ezines/dow+blossoms+to+a+multi-year+best+amid+ism+green+shoots/marketrecap.aspx?id=110968 #in #tcot

This Chart From The New Reinharts And Rogoff Paper Has People Freaking Out - Debt Overhangs: Past and Present http://www.businessinsider.com/chart-reinhart-rogoff-2012-5 #in #tcot

Citi: The Fiscal Cliff Coming #In 2012 Is 'SO RIDICULOUSLY LARGE' http://www.businessinsider.com/citi-the-fiscal-cliff-is-so-ridiculously-large-2012-5 #tcot #GOP > #SuperCommitteeFAIL < Don't do it again.

Coming Taxmageddon Is Like Nothing The Economy Has Ever Seen Before: Change #in personal taxes vs change in GDP http://www.businessinsider.com/chart-of-the-day-change-in-personal-taxes-vs-change-in-real-gdp-2012-5 #tcot

CITI: This Is What The World's Most Important Commodities Will Do In 2012 And 2013 http://www.businessinsider.com/citi-commodities-2012-2013-2012-4 #in #tcogt

Blackstone Heavyweight Byoron Wien: 2012 Will Be Great, But Then We're #In For A Prolonged Period Of Slow Growth http://www.businessinsider.com/byron-wien-after-2012-we-are-in-for-a-prolonged-period-of-slow-growth-2012-5 #tcot

One WTC Reaches New Heights: Reclaims title of tallest NYC skyscraper, officially surpasses height of the ESB http://www.globest.com/news/12_340/newyork/development/One-WTC-Reaches-New-Heights-321063.html #in #tcot