Top Friday Trades: Tech & Credit Cards
This week saw a Federal Reserve rate cut, better-than-expected consumer spending and jobs numbers, and the first climb of the Dow Jones Industrials past 13,000 in nearly four months.
So what stocks top the top traders' lists?
Steve Grasso of Stuart Frankel likes Visa.
Grasso's enthusiasm about Visa comes despite news of a federal government plan to limit what are called "unfair or deceptive" billing practices, a plan that would generally prohibit credit card companies from increasing the annual percentage rate on a customer's outstanding balance.
"Obviously, everything hinges on the consumer," he said.
"Even if there is a recession, people are saying now it's going to be a short-lived one, and we know, in this business, perception is reality, consumers are going to get out there and start spending money, and if they start spending, the toll collector, which is Visa, starts making some profits."
David Lutz of Stifel, Nicolaus Capital Markets likes Intel.
"I'm really excited about PC growth," Lutz told CNBC.
"Just this week, two of the world's largest notebook makers, who manufacture over 50 percent of the world's notebook computers, easily exceeded estimates, had solid guidance, and I think the most compelling play in that space is going to be Intel, followed by Hewlett Packard, which I favor over Dell."
Steve Grasso owns shares of Visa.