NEW YORK (
) -- The markets rallied Wednesday on encouraging unemployment and consumer sentiment data.
Dow Jones Industrial Average
gained 150.91, or 1.37%, to 11, 187.28 and the
added 17.92, or 1.49%, to 1,198.35. The
jumped 48.17, or 1.93%, to 2,543.12.
Guy Adami said on
's "Fast Money" TV show that it was a great day for the market which recouped what it lost the day before. He said the bulls must be buoyed by today's action.
Tim Seymour said the markets were buoyed by a strong economic assessment report from Germany and an encouraging initial jobless claims report in the U.S. He said today's action will set the stage for a market meltup.
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 on TV
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Joe Terranova was impressed with the boost from retail stocks ahead of Black Friday. He said the sector is getting a big boost from the affluent consumer.
Karen Finerman said she liked
. She said the two stand to do well over the holidays because they have done a better job than others of controlling during their inventories.
Deborah Weinswig, a Citi analyst, agreed with the picks. She said the two have done a good job of "localization," putting items in the right stores at the right time. He also said the two have put a lot of effort in their online operations.
Simon Hobbs, the moderator of the show, shifted the discussion to Europe and the debt crisis facing Ireland, Portugal and Spain. Seymour said he believes the austerity program in Ireland is working, while Terranova said the two top banks in Spain are performing better than most believe.
Steve Cortes, though, was bearish on Europe, saying Spain's banks are in a far worse situation than the U.S. banks.
Shifting to the rebound in oil prices, Terranova attributed the move to China's thirst for diesel, while Adami said higher gasoline prices are driving up crude.
Hobbs alluded to a JPMorgan chart indicating the five best performing sectors in weeks after Thanksgiving. They included the Internet, media, travel, metals and health care providers.
Seymour understood the choice of metals because they are the midst of a cyclical move. Adami noted
took in three sectors: Internet, media and travel.
and its prospects for the rest of the year, Colin Gillis of BGC, said the company will benefit from an estimated sales of 5 million iPads, 15 million iPhones and 20 million iPods.
He said the kicker will be resurgent sales of MacBooks and netbooks, which he argues will be the second biggest driver of sales.
Asked to predict where Apple will be priced a year from now, the panel had a range of opinions. Adami predicted $285 because Apple's market cap is much too large for the stock to sustain its rate of growth. Terranova predicted $413; Finerman, $360; and Patty Edwards, $375.
Edwards continued on the theme of high-end retailers by mentioning her favorites:
Cortes said that while affluent consumers are driving up retail sales, they are not doing anything to resurrect the housing industry as evidenced in the sideways action of
In the final trades, Terranova liked
. Finerman liked
. Adami liked
. And Seymour hoped that the global markets would stay calm over Thanksgiving.
--Written by David Tong in San Francisco.
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