'Fast Money' Recap: Kroger's Cooking

Stocks were down slightly across the board today. The Dow fell 0.29%, while the Nasdaq dropped only 0.73%, and the S&P 500 lost 0.28%.

It was a "peculiar day in the markets, filled with rumor and little else," said Dylan Ratigan to kick off CNBC's "Fast Money" show today.

Pete Najarian said that financials had started to roll over, while "regionals were strong all day." He is also looking for UBS(UBS Quote - Cramer on UBS - Stock Picks) to start coming back from its unannounced two-for-one split.

Consumer confidence numbers were released today and showed the lowest numbers since 1992. Karen Finerman said this could be because "oil affects every portion of the economy" and consumers know that.

Dow Chemical(DOW Quote - Cramer on DOW - Stock Picks) raised prices 25% as well, which Ratigan said "creates anxieties about inflation." Guy Adame agreed and was "pretty worried," saying that right now "it's all about containing inflation, and these price increases hurt." Najarian added that he "wouldn't put capital in them right now."

Moving on, the analysts discussed Kroger's(KR Quote - Cramer on KR - Stock Picks) new numbers, which Ratigan said were "surprisingly lovely." Jim Macke attributed this to the fact that Kroger is "trading on cheap multiples," saying that rising food prices "don't hurt their margin because they're working off an incredibly low base." Finerman added that Wal-Mart's(WMT Quote - Cramer on WMT - Stock Picks) grocery area "is doing well" because "they have so much pricing power," something Macke said "comes back to bite the consumer."

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Touching on the pharmaceuticals, Ratigan said today was "a horrendous performance for all U.S. drug manufacturers." Adame did say that he "likes Celgene(CELG Quote - Cramer on CELG - Stock Picks)" and Najarian added that Novo Nordisk(NVO Quote - Cramer on NVO - Stock Picks) is another to keep an eye on.

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