The Fast Money traders discuss how to trade retail after Trump's tweet to Nordstrom
The "Fast Money" traders took a look Wednesday at the retail sector after Nordstrom (JWN) decided to drop Ivanka Trump's brand from its stores and the president slammed the company in a tweet.
Trader Guy Adami said the retailer has gotten a lot of free publicity with the news story, especially compared with companies who ran ads during the Superbowl. Adami said Nordstrom's name in the news will help the stock have a nice rally.
Trader Tim Seymour said if he's buying into retail stocks he's shopping for names giving out big dividends, such as Gap (GPS). He said sentiment around the sector is low and he would wait until the summer to get into the area.
Trader Steve Grasso said he likes the SPDR Retail S&P ETF (NYSE Arca: XRT) because the Trump administration's border tax may not get implemented. This will help retail stocks recover after shares dipped.
Disclosures:
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
STEVE GRASSO
STEVE GRASSO'S FIRM IS LONG: AGN, BIIB, BIVV, CHK, COG, CUBA, DIA, HES, ICE, KDUS, MFIN, MJNA, MSFT, NE, REGN, RIG, SPY, TITXF, VIRT,WDR, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SPY, T, TWTR. Grasso's kids own: EFA, EFG, EWJ, IJR, SPY. NO SHORTS.
DAN NATHAN
Dan Nathan is Long XLV March Put Spread, XLI Feb Put Spread, FXI Feb Put Spread.
TIM SEYMOUR
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT;
Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
