'Fast Money' Recap: Rush to Commodities

NEW YORK (TheStreet) -- The markets picked up where they left off before the holiday weekend.

The Dow Jones Industrial Average rose 56.07, or 0.59%, to 9497.34, and the S&P 500 added 8.99, or 0.88%, to 1025.39. The Nasdaq was up 18.99, or 0.94%, to 2037.77.

Guy Adami, who acknowledged that he's been "clearly wrong," said on CNBC's "Fast Money" TV show that it was an impressive day. "Everyone seemed to have come in racheting things higher," he said. "The market is defying gravity so far."

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Joe Terranova said that one reason why the market is moving higher is that despite a bearish sentiment, money managers have to put their money to work.

Pete Najarian said the financials were particularly strong, with Goldman Sachs(GS Quote) trading at $167.

Adami noted that Hewlett Packard(HPQ Quote), which closed at $45.58, was trading at its highest levels since last September.

Melissa Lee, the moderator of the show, shifted to oil, which gained 4% for the day. Terranova said most money managers want to be in the energy space after a significant drawdown in inventory in August.