The stock market saw its biggest up day in two weeks on Friday. The Dow finished up 205 points and the Nasdaq closed up 51 points. The crew at CNBC's "Fast Money" discussed the rally and how the credit crunch could affect 2008. Dennis Gartman and Dennis Kneale join the show for additional input on commodities and the tech sector.
According to Pete Najarian, the market rocketed up because of Research In Motion's earnings and continued strength in anything tied to the global story. He mentioned that investors are starting to believe the US economy is looking okay. Research In Motion(RIMM Quote) exploded up 12% after reporting strong earnings that beat the street. Najarian believes if RIMM pulls back below $105 it's a buy.
Jeff Macke explained that volatility came down and the news flow wasn't bad on Friday. Tim Seymour thinks the macro is back in and emerging markets are being driven by liquidity. He continues to think the global growth story is alive.
Credit Crunch 2008
...Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,485.94 | 1,112.53 | 2,214.07 | 36.05 |
Oil *
72.40
|
|
DOWN
15.11
|
DOWN
1.58
|
UP
1.97
|
UP
0.59
|
10 Yr
3.60%
SPDR Gold
109.56
|
|
-0.14%
|
-0.14%
|
+0.09%
|
+1.66%
|
Data delayed 20 minutes |
Connect with TheStreet