Edward Yardeni, president of Yardeni research, said Thursday that he may be bullish on the U.S. consumer and economy, but he still believes investors need to pick their spots.
"The market has become a market for stock pickers. You really have to know your companies. While the overall consumer can be cheap, that doesn't mean you buy anything related to the consumer," Yardeni told CNBC's "Fast Money: Halftime Report."
Retail earnings, often used as a thermometer of how well consumers are doing and where they are spending their money, have been a mixed bag.