NO SHANGHAI SWOON:
The headline: U.S. Stocks Close Slightly Higher to New Records Despite 8.3% Plunge In China Market
The word: Eric Bolling says investors are shrugging off the China A-share sell-off. (A-shares can only be bought by Chinese nationals) Eric tells investors to keep an eye on stocks tied to US financial liquidity such as Home Inns & Hotels Management (HMIN) and Ctrip.com International (CTRP). Pete Najarian likes Baidu.com (BIDU) and China Mobile (CHL). Guy Adami adds investors can buy stateside stocks that have China exposure such as Joy Global (JOYG) which makes mining equipment.
WALL STREET LOVES WAL-MART
The headline: Six Analysts Upgrade Wal-Mart (WMT) Following Buyback and Store Cuts From the World's Largest Retailer
The word: Jeff Macke says he’s a buyer because all the bad news is in the company. And the key, he adds, is the management using cash to buy back shares. Guy Adami adds he thinks either CEO Lee Scott will get shares higher or he will get bounced which, Guy says, would add $10 to share price.