After a disappointing U.S. jobs number Friday, "Fast Money" traders chose assets that could rally if the Federal Reserve stays put on interest rates for the foreseeable future.
The U.S. economy added 142,000 jobs in September, far fewer than economists had expected. The number reduced market expectations that the Fed would move off of near-zero interest rates this year.
Read MoreJob creation misses big in September
In that environment, traders Steve Grasso and Dan Nathan looked to utilities stocks, which they perceived as defensive plays with little exposure outside of the United States. The Utilities Select Sector SPDR Fund, for instance, rose more than 1 percent on Friday.
"Utilities work on both sides of the argument" on the Fed raising interest rates, Grasso said.