NEW YORK (TheStreet) -- The broader market is higher on Thursday following significantly better-than-expected Philly Fed results. Also, jobless claims dropped, homebuilding activity picked up and lower gas prices are helping the economy.
But don't forget, the Philly Fed report is region-specific, said Stephanie Link, chief investment officer of TheStreet and co-manager of the Action Alerts PLUS portfolio, on CNBC's "Fast Money Halftime" show.
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That said, the report is very positive for the economy and U.S. stocks look like a great place to invest going into year's end, she said.
U.S. stocks continue to be the best investment, according to Joseph Terranova, chief market strategist for Virtus Investment Partners. He pointed out the bullish price action in the Russell 2000 and said the rally can continue.
The recovery in the U.S. economy is great, but the Federal Reserve needs to be cautious about raising rates too quickly, which could quickly stifle growth, said Jon Najarian, co-founder of optionmonster.com and trademonster.com.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, says he likes stocks on the long side in 2015, but doesn't see many near-term catalyst to push the market higher into year's end. Investors should buy the CBOE Volatility Index (VIX.X) as a way to protect their portfolio in the event of another pullback.
Dollar General (DG) is worth $70, even without its potential deal to acquire Family Dollar (FDO) , according to Link. Wednesday's pullback to $63 was an overreaction, she said. The company's prospects look attractive going forward.
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