The state this morning will release unemployment data for April. North Carolina has seen a steady rise in the jobless rate this year -- to 5.2 percent in March -- a trend that likely continued last month. Look for weakness in manufacturing and construction, which are suffering as the economy slumps.

HOME-BUILDING'S RELENTLESS SLIDE

New home construction will continue to fall in April, after hitting its lowest level in 17 years in March, analysts expect. The Commerce Department said that March home construction fell 11.9 percent from February to a seasonally adjusted annual rate of less than 1 million. Analysts expect a small dip of less than 1 percent in April.

COME ON, GET HAPPY

Last month, the University of Michigan's consumer sentiment index came in at its lowest level since the early 1980s. Analysts are predicting another dip in confidence when preliminary results for May are released this morning. Energy prices have continued to soar to new heights, adding to a host of problems for consumers.

SMELLS LIKE TEEN SPENDING

Wall Street will look at Abercrombie & Fitch's first-quarter earnings today to get a handle on teen spending. Teens can be counted on to continue spending, because parents will cut elsewhere before saying "no" to their children. But retailers have reported weakness as teens have trouble finding jobs and allowances are trimmed. Abercrombie beat expectations in April, but it is moving to open stores internationally as U.S. sales soften.