Consumer side strong but profits worrisome:
Chris Rupkey, Bank of Tokyo Mitsubishi:
"Greater profits are a growth engine for the economy, but we are looking past this data today as it seems to be related to the big decline in oil … It’s all about momentum, and the consumer’s got it, and this will help push real GDP growth in the first quarter. What are consumers buying upon today’s revision? Well, it’s not more cars and not more paper towels, it’s services."
