Looking ahead to Thursday's jobless claims report, Grasso said the number will be in the vicinityof 400,000, which he said is a huge mental hurdle for the markets.
In an economic showing signs of stagflation, consumers will be looking for stores that offer the best prices. In a survey of more than 100 products at Wal-Mart (WMT) and Dollar General (DG) stores, Mark Montagna, a retail analyst with Avondale Partners, said Dollar General was able to maintain price parity with Wal-Mart.
He said he has a market outperform rating on Dollar General, which he is forecasting EPS growth of 14% to 20% over the next three years. He said Dollar General has soundly beaten Wal-Mart in comparable store sales.
In the final trades, Kelly said he was picking up some more SPDR Gold Trust (GLD). Seymour liked Tata Motors (TTM). Adami liked NetApp (NTAP - Get Report). Finerman liked Kinder Morgan Energy Partners (KMP). And Grasso advised scaling back on AK Steel (AKS - Get Report).--Written by David Tong in San Francisco. To contact the writer of this article, click here: David Tong. To follow the writer on Twitter, go to http://twitter.com/davidtong. To submit a news tip, send an email to: email@example.com. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. Follow TheStreet.com on Twitter and become a fan on Facebook.