'Fast Money' Recap: Market Marches On

NEW YORK (TheStreet) -- The markets started the week on an upbeat note despite the threat of a trade war with China.

The Dow Jones Industrial Average rose 21.39, or 0.22%, to 9629.80, and the S&P 500 added 6.61, or 0.63%, to 1049.34. The Nasdaq was up 10.88, or 0.52%, to 2091.78.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, said she was amazed at the strength of the market and how it wants to struggle higher.

Karen Finerman agreed, saying that money on the sidelines continues to come in despite "every reason for the market to go down."

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Joe Terranova said the much expected correction doesn't seem to be coming. Rather what seems to be happening is a chase for performance by asset managers for the remainder of the year, he said. "That's going to send all the equity indexes out on highs for the year."

Guy Adami, who acknowledged again he's been on the wrong side of this improbable run the past few weeks, said "even the bullish out there have to admit the valuations on many of these stocks frankly don't make a lot of sense."

Pete Najarian picked up on that last statement and argued that there are a lot of stocks whose valuations do make a lot of sense such as Apple(AAPL Quote), IBM,(IBM Quote), Google(GOOG Quote) and Freeport McMoRan(FCX Quote). He said the financials, technology and industrials have been providing leadership for the market.