Tim Seymour said that rates failed to break 2.45% on the downside and that would need to happen before we saw 2%. He said the Fed had horrible communication in June and has put a lot of pressure on the markets for this meeting.
The Nikkei was down 3% in the overnight session on news of higher-than-expected inflation results. Brown said that if traders have missed the upside move in Japan, the
WisdomTree Japan Hedged Equity ETF
(DXJ) is a buy on the pullback.
Seymour added he is a buyer of Japan and that it could outperform the S&P 500 over the next nine months.
(ETFC) were on the show's "Pops & Drops" segment.
Adami said that after the 22% jump in shares of TripAdvisor on the back of strong earnings results, the valuation was too steep and he would not be a buyer.
Broadcom fell 18% from poor earnings and downgrades, with Seymour adding that the group has been under a lot of pressure and he would not be buying this dip.
Grasso said that he was a buyer of E-Trade Financial even after the strong week, where shares gained 10%, citing the upside momentum is not finished.
For their final trades, Seymour is a buyer of
BHP Billiton Limited
. Grasso is buying
with a stop at $3.90. Brown is a buyer of
SPDR S&P Bank ETF
, while Adami is buying PulteGroup.
-- Written by Bret Kenwell in Petoskey, Mich.
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