Apollo Announces Surprise Earnings
The Dow Jones Industrial Average rose 33.18, or 0.31%, to 10,606.86, while the S&P 500 added 4.54, or 0.40%, to 1,141.68. The Nasdaq fell 1.04, or 0.05%, to 2,300.05.
Gary Kaminsky said on CNBC's "Fast Money" TV show that money fund managers will be selling on the news, regardless of what the report says. "Good news is bad news, and bad news is bad news," he said.
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
Tim Seymour disagreed, saying that a better-than-expected jobs report, coupled with the Fed's vow earlier this week to keep interest rates low and signs of growth in the industrial and service sectors, is providing the kind of confidence to keep the market rally going.
Karen Finerman agreed with Seymour, saying that a good jobs report will encourage money from the sidelines to move into the market.
Joe Terranova said money so far this year has been allocated to commodities and materials, but not to equities. He said the key for traders tomorrow is to see where the money moves into equities after the jobs report is released.
As a hedge, Seymour said his firm has been buying puts in iShares MSCI-EMF(EEM Quote) for some near-term protection ahead of Friday's jobs report. "This is very cheap protection when we think the market is going higher," he said.
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