Stocks gained for the second straight session Thursday, and “Fast Money” traders discussed how to play a steadying market.
The three major U.S. averages rose on the day, with the Dow Jones industrial average adding nearly 1 percent. The index ended the session positive for the year.
Despite the gains for stocks, trader Guy Adami argued gold and bond prices will rally ahead.
“I do think the bond market continues to go higher,” sending yields lower, Adami said.
On the stock side, Adami said he likes Coca-Cola, which “seems to be breaking out.” Shares of the beverage company rose 1.6 percent Thursday.
Trader Steve Grasso, meanwhile, bought shares of tobacco company Altria Group on Thursday as a dividend play.
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami’s wife, Linda Snow, works at Merck.
Steve is Long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MO, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long AMZN, CVX, OXY, RIG kids own EFA, EFG, EWJ, IJR, SPY
Dan is long PFE buy-write, long TWTR, long UUP March calls, long GE May 28 puts, long JPM April puts, long XLP March put spread, long XRT March puts, long XLB March puts, long HD put butterfly, long QQQ puts, long INTC March/April put spread, long QCOM April put spreads, long HYG June puts, long IWM May and September puts, long XLE April/June put spread
Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim’s firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.