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Stocks Rise; Economy OK

Friday, 7 Sep 2007 | 1:06 PM ET

STOCKS RISE; ECONOMY OK

The headline: Dow Resumes Climb For Week With 58 Point Gain on Strong Retail Sales, Economic Data.

Dylan Ratigan explains that The Dow closed higher 3 out of 4 days ahead of Friday’s crucial Jobs Report.

Word on the Street
The Fast Money guys take a look at today's top business stories.

Guy Adami tells the panel that The Jobs report could leave The Fed “in a box.”

Jeff Macke believes a strong Jobs number will mean no rate cut from The Fed. He thinks The Street wants to see a bad number (to get a rate cut).

Karen Finerman says she’s hoping the number is somewhere in the middle.

  Price   Change %Change
S&P 500
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BACK TO SCHOOL BLOWOUT

The headline: Brisk Back-To-School Business Leads To Surprisingly Strong August Sales.

Jeff Macke tells the panel that Wal-Mart (WMT), Target (TGT), Nordstrom (JWN), and Saks (SKS) all topped The Street’s expectations. However, he feels expectations weren’t so high.

Pete Najarian tells the panel to forget about Wal-Mart.

Jeff Macke agrees.

  Price   Change %Change
JWN
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SKS
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TGT
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WMT
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THE $700 CLUB

The headline: Gold Closes Above $700 For 1st Time Since May 2006.

Guy Adami explains that gold is jumping because investors are seeking a safe haven. He also thinks gold is pricing in a Fed rate cut and if it doesn’t come, he tells investors to beware.

SOUR APPLE CUSTOMERS

The headline: Apple (AAPL) Offers $100 Credit To iPhone Buyers Angry Over Yesterday's Price Cut.

Once again, Jeff Macke reminds the panel that he doesn’t like Apple stock. He feels Apple is now in uncharted territory (with a price cut) and he recommends selling.

Karen Finerman agrees with Jeff Macke.

Pete Najarian feels differently. He believes iMac sales will drive Apple stock higher.

  Price   Change %Change
VOW3
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NATIONAL SEMI AFTER HOURS

The headline:National Semiconductor (NSM) Reports Better-Than Expected earnings.

Guy Adami says he likes this stock.

Pete Najarian adds that he, too is a buyer.

THESE PUNKS ARE FEELING LUCKY

The headline:Smith & Wesson (SWHC) Soars After Hours On Stronger-Than-Expected Earnigns.

Guy Adami tells the panel not to chase the stock but he recommends buying on it a pull back.

  Price   Change %Change
SWHC
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THE WORLD'S BEST STOCKS

The headline: China Stocks Hit Record, Making Them World's Best-Performing This Year: Bloomberg.

Karen Finerman explains that UBS issued a buy statement saying the Olympics should fuel a China rally through '09. To her that seems ridiculous – she wonders how UBS can have clarity into ’09 in a market like this.

Jeff Macke says UBS is late to the party.

Pete Najarian says he likes buying China telecom into Q1 of next year.

Guy Adami says he likes China Mobile (CHL).

  Price   Change %Change
APRM
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STRONG BACKBONE

The headline: Internet Backbone Company Juniper (JNPR) Hits New High After Analyst Day.

Pete Najarian tells the panel he loves Juniper for infrastructure as well as SAP (SAP). He reminds the panel that Cisco (CSCO) CEO John Chambers Reaffirmed 1st Quarter Guidance Wednesday.

  Price   Change %Change
CSCO
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JNPR
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SAP
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______________________________________________________
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Trader disclosure: On Sept. 6, 2007, 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 (JWN); Najarian Owns (CHL), (BJS); Finerman's Firm Owns (WMT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Is Long (MDG) And Is Short (AUY) Against It.

  Price   Change %Change
JNPR
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SWHC
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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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