NEW YORK (TheStreet) -- U.S. equities made new all-time highs on Friday after European central banker Mario Draghi discussed quantitative easing and China's central bank unexpectedly cut interest rates

Investors had expected Draghi's announcement but stocks really started to move higher after the unexpected Chinese news, Mike Murphy, founder of Rosecliff Capital, said on CNBC's "Fast Money Halftime." Investors can buy Joy Global (JOY) and Caterpillar (CAT) - Get Report as a result. 

Jon Najarian, co-founder of and, said he is a buyer of basic material stocks as well Devon Energy (DVN) - Get Report , Halliburton (HAL) - Get Report and Baker Hughes (BHI) .

Investors should look to the iShares MSCI Europe Financials ETF (EUFN) - Get Report and the WisdomTree Europe Small Cap Dividend ETF (DFE) - Get Report , according to Josh Brown, CEO and co-founder of Ritholtz Wealth Management. 

Also, agriculture stocks appear to be breaking out, he said. Investors can buy the Market Vectors Agribusiness ETF (MOO) - Get Report and the Materials Select Sector SPDR ETF (XLB) - Get Report if they believe the rally will continue.

U.S. stocks will likely continue to grind higher into year's end, said Stephanie Link, chief investment officer of TheStreet and co-manager of the Action Alerts PLUS portfolio.

However, international stocks will likely play a bigger role in 2015, she said. She likes industrial and consumer cyclical stocks as well as U.S. companies with international exposure such as FedEx (FDX) - Get Report , Yum! Brands (YUM) - Get Report and Cummins (CMI) - Get Report

Many investors like the retail sector heading into the end of the year. Brown is one of those investors, saying holiday spending is likely to be strong. He advised investors to stay long the SPDR S&P Retail ETF (XRT) - Get Report

Link likes Lululemon Athletica (LULU) - Get Report and Panera Bread Company (PNRA) . Murphy is buying Under Armour (UA) - Get Report and Najarian is staying long Michael Kors (KORS)

The retail industry has struggled until recently but can continue to rally, according to Dana Telsey, CEO and chief research officer at Kelsey Advisory Group. Kors, Under Armour, Best Buy (BBY) - Get Report, Nike (NKE) - Get Report , Tiffany & Co. (TIF) - Get Report and Limited Brands (LB) - Get Report should do well. 

Telsey added that Lulemon could be a potential turnaround story in 2015, but expects teen retailers and women's apparel companies to continue struggling. Overall, the retail companies are stronger headed into this year's holiday, she concluded. 

The analyst community was out with several big technology stock downgrades on Friday. CLSA downgraded Intel (INTC) - Get Report to sell with a price target of $31. Najarian disagreed with the call, pointed out the company's strong guidance and higher dividend. Intel is "hitting on all cylinders" right now, he added. 

There's nothing wrong with taking profits in Intel, which is up 39% on the year, Link said. However, the valuation is still somewhat attractive. 

Evercore Partners downgraded eBay (EBAY) - Get Report to a sell and assigned a price target of $49. Brown said the downgrade is reasonable, given that the payments space is getting "crowded," which could hurt eBay's PayPal business. Perhaps shares of eBay will trade better as the PayPal spinoff gets closer, Link reasoned.  

Jefferies initiated coverage on Microsoft (MSFT) - Get Report with a sell rating and $40 price target. "We added to our position," Link said, referring to Action Alerts PLUS. The stock is up 29% for the year to date, but it still only trades at 16 times 2015 earnings estimates. The company can easily afford to raise its dividend and buyback program as well. 

"There's a lot more companies out there I'd be telling you to sell before Microsoft," Murphy said. 

For their final trades, Link is buying Dollar General (DG) - Get Report and Murphy is a buyer of Hertz Global Holdings (HTZ) - Get Report . Brown said to buy the Financial Select Sector SPDR ETF  (XLF) - Get Report and Najarian is buying Realogy Holdings (RLGY) - Get Report

-- Written by Bret Kenwell

Follow @BretKenwell