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How to play the jobs report: 4 big plays

How to play the jobs report: 4 big plays

Traders have one main focus after Friday's job report: financials.

CNBC "Fast Money" trader Steve Grasso said that as the prospects of a December rate hike have increased off the strong jobs data, financials stand to benefit from higher rates.

Read MoreBlowout jobs report puts ball back in Fed's court

"A lot of guys have it in their numbers already, but I think the big boys, the big mutual funds, pension funds, are still basing their case on "rates go higher, financials are bought," I don't think it's all in the numbers just yet," he said.

Chris Ratcliffe | Bloomberg | Getty Images

Trader Tim Seymour agrees on the financials play. He also warned investors to stay far away from gold, which falls on the prospects of a rate hike and on a stronger dollar.

Brian Kelly zoomed in on Home Depot as a strong play after the report.

"I need a stock that does good in a strong dollar environment and with a good employment environment. That stock: Home Depot.That did very well today; it's done well over the last year."



Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JPM, KO, LGF, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.


Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc


Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long MCD, ZNGA kids own EFA, EFG, EWJ, IJR, SPY


Brian Kelly is long BBRY, GLD, Bitcoin, Hong Kong Dollar, US Dollar; he is short Yuan, British Pound, Candaian Dollar, Euro, Yen, EEM, EWC, EWH, EWU, EWG, SPY