The "Mad Money" host also offers up his picks for an ultimate decline in oil.
Despite storms and rising gasoline prices, many retailers reportedly monthly sales managed to top analysts' estimates, but some warned of a weaker March due the timing of the Easter holiday.
Today's action suggests stocks may still be able to advance with oil at $100, but it's dicey above that. Mid-morning stocks weakened as oil moved to $102, but stocks gradually recovered even as oil has held in near $102. At 2pm ET major indices were flat, more up stocks than down stocks.
Retailers had several headwinds to deal with in February; however, analysts are still expecting sales to be higher than the year-ago period.
This week's batch of earnings reports showed that Target trumped Wal-Mart Stores, but Target still needs to watch its back, because other retailers are grabbing a bigger chunk of the consumer budget.
What follows is a roundup of corporate earnings reports for Wednesday, Feb. 23
Stocks ended lower Wednesday, extending losses from the previous session, as oil briefly crossed the $100 mark and investors continued to worry over over the political unrest in Libya.
Stocks were under pressure Wednesday, extending the previous day's sharp losses, as oil briefly crossed the $100 mark and investors remained jittery over the political unrest in Libya.
Stocks continued to slide lower for a second session Wednesday, extending the previous day's sharp losses, as investors digested a handful of weak earnings and remained jittery over the political turmoil in Libya.
Singapore's January CPI grew 5.5 percent year-over-year, its greatest jump since December 2008. The country's statistics agency cited higher car, fuel, housing and food costs for most of the increase. Singapore's Straits Times index is now down over 9 percent from its November high.
Stock index futures pointed to a slight rebound for Wall Street on Wednesday after stocks tumbled in the previous session amid growing concern over the political turmoil in Libya, where Moammar Gaddafi vowed to crush the revolution.
See what's happening, who's talking and what will be making headlines on Wednesday's Squawk on the Street.
Geopolitical events are going to be in focus over the next two weeks, said Art Cashin, director of floor operations at UBS Financial Services.
Thirteen retailers will give quarterly results next week, but which retail name has pricing power? The "Fast Money" traders discuss.
Things are nowhere near as bad as some investors are making them out to be.
Fears that winter weather would result in disappointing retail sales may have been overblown, as several retailers have not only reported better-than-expected monthly sales reports, they are also raising fourth-quarter earnings estimates.
And then follow this strategy to profit from it.
We’ve updated this post with even more trades from the Fast Money gang.
While much of the market was focused on weakness in the Dow and S&P 500, the Fast traders were very impressed by gains in the semiconductor space.
Heading into Thursday's batch of retail sales reports, expectations are high that retailers will report their strongest sales in four years. However, as BJ's Wholesale's report showed Wednesday, there are sure to be some misses here and there.