America Is OK

Despite recession fears do strong results from MasterCard, Corning, and CBS suggest that consumers are still happily forking over cash?

On Tuesday MasterCard said first-quarter earnings more than doubled, beating expectations, helped by the weak dollar and increased spending on its cards.

Meanwhile, Corning reported consumer demand for flat-panel televisions grew in the first quarter, defying the weak U.S. economy, and tripling the specialty glass maker's profit while CBS Corp. came in much better than expected and reported a 14 percent increase in first-quarter earnings on higher syndication sales from its popular franchise "CSI."

How do you trade it?

Good companies are not whining about the economy, says Jeff Macke. I like GLW as well as Wal-Mart .

Corning had a great quarter, but I think you should take profit, counters Guy Adami.

Look at Apple which continues to work, says Pete Najarian. And check out Research in Motion , too.

Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to

Trader disclosure: On Apr. 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (ATVI), (MSFT), (DIS); Najarian Owns (AAPL), (TSO), (YHOO), (XLF);Najarian Owns (CHK) Calls, (MSFT) Calls, (POT) Calls; Finerman's Firm Owns (GE); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (MO), (MSFT), (PM), (TSO) (VLO); Finerman's Firm Is Short (GLD), (IYR), (MDY), (IWM), (RTY), (SPY), (COF), (SPG); Finerman's Firm Owns A Bullish Call Spread In (YHOO) And Owns (YHOO) Stock; Finerman's Firm Is Short The British Pound; NBC Universal Is The Parent Company Of CNBC; GE Is The Parent Company Of CNBC