NEW YORK (
) -- The markets sputtered to a close Friday completing what has been a good month for the markets.
Dow Jones Industrial Average
was down 1.22, or 0.01%, to 10,465.94, while the
was up 0.07, or 0.01%, to 1,101.60. The
added 3.01, or 0.13%, to 2,254.70.
Joe Terranova said on
's "Fast Money" TV show that July was surprisingly strong for the markets, with the Dow, up 7%; S&P, up 6.8%; and Nasdaq, up 6.9%. He said a weaker dollar and a stabilizing euro contributed to the rally.
However, looking ahead to August, Steve Grasso warned the quality names could be thrown out with the trash if the market turns south.
Karen Finerman disagreed, saying investors will react to a quiet, stable market by coming back in.
For a breakout of some stocks from a recent "Fast Money" TV show,check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw onTV
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Guy Adami said the markets will be watching China's PMI numbers Sunday night. He said a lot of things could unravel if they fall below 50.
Patty Edwards said investors seem to be gravitating toward companies with good earnings and revenue. She said they happen to be those with international exposure, specifically in China, Brazil and Latin America.
Terranova said the markets will looking next week toward the ISM report as well as the jobless report on Friday.
Melissa Lee, the moderator of the show, said
Research In Motion
was up 3.25% ahead of Tuesday's announcement of a so-called "iPad killer." Finerman said the new device looks pretty impressive, and Terranova said it's exactly the kind of catalyst RIM needs to play some offense against Apple.
John Stephenson, author of
The Little Book of Commodity Investing
, said he expects China to turn in a PMI number north of 50. He said that would be good news for commodities, which he said is the one asset that would be working in the market in the short and long run.
His favorite stocks were
Cliffs Natural Resources
Lee pointed out that
, was on a tear this month, up 16% as it outperformed the financial sector. Terranova said Goldman, on a technical and psychological basis, has found the trough.
Adami, though, expressed concerns about the possible departure of its CEO Lloyd Blankfein and what it would mean for the company and its legendary culture.
Lee brought in Patrick Doyle, CEO of
, which enjoyed a 56% increase in profits on strong sales in the second quarter. He said the company's same-store sales in the U.S. is up 8.8%, and he said the company's margins have held up despite higher raw material costs. The stock is up 53% year to date.
Looking ahead to companies reporting earnings next week, Finerman and Edwards were optimistic about
earnings. Terranova said he bought some
In the final trades, Kelly liked
. Terranova liked
while Adami liked
Human Genome Sciences
. Finerman went with
. Grasso liked
on a pullback on Monday if China's PMI numbers aren't good.
-- Written by David Tong in San Francisco
To watch replays of Cramer's video segments, visit the Mad Money page onCNBC
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