VIX: Trader Karen Finerman said she would not trade any specific policy proposal because Trump's plans have been inconsistent.
"You don't know what his policies are really going to be. They've sort of been all over the map," she said.
However, Finerman added that the CBOE Volatility Index could rise if he became president.
Defense: Trader Guy Adami said defense stocks have been "unbelievable" during President Barack Obama's administration and should continue to perform well once he leaves office.
Industrials: In a speech Thursday, Trump said he wanted to generate more U.S. energy revenue and boost infrastructure funding. If that spending increased, companies like United Rentals and Caterpillar could benefit, trader Steve Grasso said.
Bonds: A Trump presidency could also bring some questions about the American credit rating, trader Tim Seymour said. Those concerns may lead to Treasury selling, boosting yields, he added.
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
BA CC EVGN KBH MJNA MU OLN PFE PHM T TWTR GDX KIDS own EFA EFG EWJ IJR SPY NO SHORTS
Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT