ADP’s jobs report came in strong this morning, 214k new jobs created vs 190k expected from the street. Even though there some traders that took profit early, the strong ADP report and the oil intraday rebound sent the market higher, with all the major indices closing slightly on the day. The rally today again was led by financials.
The biggest news today in the business world was the news from Oklahoma City today. Former Chesapeake Energy CEO, Aubrey McClendon, died in a single car accident at the age of 56. The news of his passing spread quickly and obviously has touched several traders. The accident happened a day after McClendon was indicted on charges of rigging oil and gas lease bids.
CNBC FAST MONEY FINAL TRADES 03/02/2016
Pete Najarian – Buy Barrick Gold Corporation (ABX)
Steve Grasso – Buy Utilities Select Sector SPDR ETF (XLU)
Brian Kelly – Buy PowerShares DB US Dollar Bullish ETF (UUP)
Guy Adami – Buy Newmont (NEM)