NEW YORK (TheStreet) -- The S&P 500 eked out a gain on Tuesday for its second consecutive record close.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said investors can look toward large-cap industrial stocks for growth. Specifically, he likes General Electric (GE), Honeywell International (HON), and Boeing (BA).
Tim Seymour, managing partner of Triogem Asset Management, said the U.S. economy needs to show growth in order for the industrial stocks to do well. He likes transport stocks such as FedEx (FDX).
Karen Finerman, president of Metropolitan Capital Advisors, said the market will likely decline if economic growth slows too much, even if certain stocks are able to generate earnings per share growth.
Dan Nathan, co-founder and editor of riskreversal.com, said if China can maintain 7% annual GDP growth it will be a great investment. He liked Baidu (BIDU).
Seymour called small-cap stocks overvalued and was a seller of the iShares Russell 2000 ETF (IWM).
Adami agreed the IWM could have further downside but said he would be more inclined to sell the exchange-traded fund on a break below the $107 level.
Steve Grasso, director of institutional sales at Stuart Frankel, called in to update viewers on his positions. He sold his long positions in Amazon (AMZN), Bank of America (BAC), Abercrombie & Fitch (ANF), Hewlett-Packard (HPQ), and Qualcomm (QCOM). He added BAC is a good long-term hold but has lost its upside momentum for now. He is still long Twitter (TWTR).
Adami said Abercrombie & Fitch is a possible takeover target and he would "stay with" the stock.
Daniel Ives, managing director of FBR Capital Markets, said the decline in new technology stocks offers a chance for large-cap technology companies to acquire them over the next three to six months. Specifically, he suggested that International Business Machine (IBM) acquire Splunk (SPLK), Sap AG (SAP) acquire Tableau Software (DATA) and Microsoft (MSFT) acquire Imperva (IMPV).
Adami said Imperva may be worth a short on the long side based on its small market cap and takeover potential.