Is the jobs report the lynch pin of the economy?
Yes. The job market is weakening but it hasn’t fallen apart. If you get a big drop in consumer confidence it causes people to pull back on spending but that hasn’t happened yet, says La Vorgna.
And I think the reason it hasn’t happened is the housing problem is regional -- and interest rates aren’t very high. As long as banks don’t tighten their spending standards things will be fine.
If Joe LaVorgna is right and the economy is firing on all cylinders –what’s the trade?
Mastercard says Guy Adami.
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Trader disclosure: On Dec. 26, 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 (YHOO), (ATVI), (DIS); Pete Najarian Owns (C), (MS), (N), (ANR); Pete Najarian Owns (HAL) Options, (MSFT) Options, (TGT) Options, (YHOO) Options; Finerman's Firm Owns (VLO), (WMT), (YHOO), (SUN), (GS), (PLCE), (SKS); Finerman's Firm Is Short (IJR), (MDY), (IWM), (SPY), (SPG), (TCO), (IYR); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (MBI) Puts; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts