Trader Guy Adami said President-elect Donald Trump's "conciliatory" approach to Mexico will benefit Kansas City Southern, which plummeted immediately after the election. Separately, he said one of the few banks he's liked for a long time is U.S. Bancorp, which eclipsed its all-time high earlier Thursday, closing at $48.68.
In terms of the tech sector, trader Dan Nathan said Cisco's guidance on Wednesday was hurt by the dollar index, and suggested it could continue to have an effect on fourth-quarter earnings. However, when looking at companies like Cisco, Intel or Microsoft, which are trading below a market multiple, and taking into account their respective cash flows, he said they are trades that could probably work. He emphasized staying away from the so-called FANG stocks: Facebook, Amazon, Netflix and Google's parent company, Alphabet.
Trader Tim Seymour suggested hedging the iShares Nasdaq Biotechnology ETF (IBB) because he does not expect the regulatory pressure on the sector to go away overnight. He pointed out the huge move it's made from 240 to 290, questioning why a trader needs to own it right now.