G-7 Confronts Global Turmoil
Airtime: Fri. May 7 2010 | 10:00 AM ET
CNBC’s Steve Liesman has the highlights from the meeting of G-7 finance ministers.

Airtime: Fri. May 7 2010 | 10:00 AM ET
CNBC’s Steve Liesman has the highlights from the meeting of G-7 finance ministers.

During a crisis, there will often be “crumbs of comfort” from economic data, but these should be ignored, Moorad Choudhry from London Metropolitan University told CNBC Friday.

Looking at the market, since Monday’s follow-through day, the market and a batch of leading stocks, steadily rallied which is a healthy sign. The fact that we have not seen any serious distribution days show up since Monday’s FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.

Hungary is definitely not in the same position on its debt as Greece, Economy Minister Gyorgy Matolcsy told CNBC. The new government will keep the budget deficit at 3.8 percent of gross domestic product, Matolcsy pledged.

Reflecting on recent trade numbers out of China, Diana Choyleva, director of Lombard Street Research, says real domestic demand in the mainland stalled in the second quarter. She assesses the slew of China’s economic data with CNBC’s Oriel Morrison and Bernard Lo.

Leon Cooperman, chairman and CEO of Omega Advisors, shares his top trades with CNBC.

Parsing today’s ISM non-manufacturing and pending home sales data, with CNBC’s Rick Santelli and Diana Olick.