The stock market rebounded sharply Monday as investors continue to bet that the Federal Reserve will lower rates on Wednesday. The Dow closed up 176 points and the Nasdaq finished up 23 points.
On CNBC's "Fast Money" Monday, Guy Adami says investors should look to buy dips in the financial stocks. According to Pete Najarian, traders should sell the Financial Select Sector SPDR(XLF Quote) now that it has had a phenomenal run. Jeff Macke mentioned he is very concerned going into the Fed meeting. He advised investors to pay attention to the Fed language and look for statements about growth, inflation and guidance.
3 Stocks I Saw On TV |
American Express(AXP Quote) reported a 10% drop in quarterly net income. The stock traded down 3% after hours on the news. Adami says if you want to be in this sector, the play is MasterCard(MA Quote). ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
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