We'll see you in the next life, buddy.

U.S. home prices fall 1.1% in March: FHFA

May Consumer Confidence 54.9 Vs Apr 40.8

Bank of America Raised To Conviction Buy From Neutral By Goldman Sachs

Core CPI 0.2% higher than expected at +0.3%. Mich Sentiment +2.8 to 67.9. Empire Manufacturing worsened "only slightly" in May.

S&P: 425 issues (88.94% mkt val) rptd: initial good reports long gone, actuals are -18% off ests, and -36.1% behind last year

Thursday (EST): Initial Claims 8:30, Productivity 8:30, Consumer Credit 3:00

US Chicago Purch Mgmt Adj May Index 34.9 Vs Apr 40.1; 10-point selling in S&P futures

Gold hits 975 980

Durable Goods strong at 1.9%; Initial Claims +5K from in-line at -623K

Bill Gross says US will eventually lose AAA rating

FOLLOW THE MONEY: May 7 China Investment Corp Likely To Buy Bank of America Corporation Shares ... May 8 Bank of America Registers To Sell Up To $11 Billion In Common Stock ... May 19 Bank of America said Tuesday that in less than two weeks it has raised $13.47 billion through the sale of 1.25 billion shares at an average price of $10.77 each

DAVIDOWITZ: We're now in Barack Obama's world where money goes into the most inefficient parts of the economy ... We're in a complete mess and the consumer is smart enough to know it ... We have 8,000 banks, we probably need 5,000 ... CRE headed into depression .. Accounting chicanery: "please, spare me!"

Rogers: Planning to sell bonds short; still buying agriculture

Is Anyone Home At The Fed?

Thursday: Wal-Mart reports earnings

Pending Home Sales +3.2% (0% expected); Construction Spending +0.3% (-1.6% expected)

ISM Index 10 EST