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Godzilla versus King Kong. It's not some campy 70s Japanese film; it is the epic struggle taking place on Wall Street. Will the financial distress (King Kong) that has gripped the markets in the past two weeks undermine the global growth story (Godzilla) that propelled us to Dow 14,000 in the first place? The Fed was clearly so nervous about such a scenario that it stepped in, lowering the rate at which it lends money to banks and rescuing the markets for at least a day. Will it be enough, however, to assuage nervous traders going forward? And does this mean we can expect a rate cut when the Fed next meets? The Fast Money will be watching rate-sensitive stocks like the financials, utilities and companies that could benefit from a weakening dollar. We will also get a report card on the financial health of the consumer when a slew of retail companies report earnings. Target, Home Depot, Gap, Abercrombie & Fitch will all report results in the coming days. Wal-Mart's lousy outlook weighed on the sector this week. Now we will see if the problems at the nation's biggest retailer are Wal-Mart issues or something more serious. It could be another volatile week in what is traditionally a sleepy time for Wall Street. As always, an open market is one in which you can make money, and we will try to that all next week. I hope to see you then. Dylan . If you have suggestions for Fast Money or The Final Trade, please send an email to fastmoney@cnbc.com |
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