'Fast Money' Recap: Weak Jobs Report?

Again in the M&A space, Kaminsky said that midcap stocks offer the best opportunities for M&A activity and cited Clorox(CLX) as a prime example of a takeover stock because of the company's strong fundamentals and organic growth. He said management doesn't want to sell, but he suggested a foreign conglomerate in consumer products might be interested in buying it.

Returning to the Summers interview, Finerman asked him about job creation. Summers said it remains the administration's No. 1 priority. He also said the blizzard that hit a large portion of the nation could distort the jobless report that comes out on Friday.

He said it's important to look past the report to the underlying trends, which he says are positive because of the jobs that will be created from the several thousand projects that are coming on line. In addition, he said business investment is starting to pick up and the world economy is becoming a better market for U.S. exports.

Finerman said it seemed Summers was trying to set up low expectations for Friday's jobs report.

Lee noted that the British pound was on the skids today. Kelly said that the United Kingdom's economy is much worse than that of the U.S. and other countries. He said he was shorting the pound. Seymour agreed, adding that he's deeply concerned with the troubles with the country's financial services.

In the final trades, Tim Seymour liked Vimpel-Communications(VIP). Adami liked Qualcomm(QCOM). Kaminsky expressed his belief that Berkshire Hathaway(BRK.a) will be an index. Najarian liked Akamai(AKAM).

-- Written by David Tong in San Francisco

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