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Could Terrible Economic Data Derail Rally?

Tuesday, 13 Jul 2010 | 5:30 PM ET

This week is off to a running start, but will terrible economic data derail this run?

Joe Lavorgna, chief US economist at Deutsche Bank tells the desk to expect soft retail numbers on Wednesday but adds " it's already baked in."

However, he also believes that Intel earnings were so strong they will probably overshadow any weakness from retail sales in the market Wednesday.

Terrible Econ Data to Derail Rally?
A look at where the market is headed, with Joe LaVorgna, Deutsche Bank chief U.S. economist.

Later in the week, he thinks the economic data to watch is jobless claims on Thursday. A decline may suggest that companies didn't lay-off as many workers despite scheduled summer shut-downs.

In turn, that could set up for a better jobs report. "That's the key thing,' he says. "If the next jobs report is better than expected I think (the market) could be off to the races."

Hear more from Lavorgna. Watch the video now!


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Trader disclosure: On July 13, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (AAPL), (BAC), (INTC), (MSFT); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (BP) Calls; Finerman Owns (GOOG); Finerman's Firm Owns (JPM), (JPM) Leaps; Finerman Owns (JPM); Fimerna's Firm Owns (MCD); Finerman's Firm Owns (RIG) Calls; Finerman's Firm Owns (YUM); Terranova Owns (ADI), (GOOG), (APC), (GMCR), (MYL), (BAC), (ABT), (AXP), (HES), (AMZN), (SUN), (SMH), (MYL), (MRVL), (ADI), (EMC), (CVS), (AKAM), (ADBE), (MON), (KCE), (FCX) ; Terranova Owns (FCX) July Calls; Kelly Owns (BP) Puts; Kelly Is Short (GS); Jon Najarian Owns (SCHN), Is Short (SCHN) Calls; Jon Najarian Owns (STLD), Is Short (STLD) Calls; Jon Najarian Owns (BP), Is Short (BP) Calls

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