NEW YORK ( TheStreet) -- The markets closed flat Tuesday on an uptick in U.S. auto sales and a rise in commodities. The Dow Jones Industrial Average rose 2.19, or 0.02%, to 10,405.98, while the S&P 500 added 2.60, or 0.23%, to 1,118.31. The Nasdaq was up 7.22, or 0.32%, to 2,280.79. Pete Najarian said on CNBC's "Fast Money" TV show that M&A activity is brisk, judging from the options action in the ag, tech and coal spaces. 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
Guy Adami reiterated his belief that the best way to capitalize on this trend is with Greenhill & Co. ( GHL), which closed higher today. "A couple of deals for these guys, and this stock is going to go through the roof." Brian Kelly, taking the opposite view, argued the rosy view of M&A activity wasn't reflected in today's disappointing market action. Karen Finerman, though, said M&A activity is starting to percolate, with the deals "ending up good for the acquirers." Adami said the low volatility index number today indicates the next move in the S&P could be downward toward the 1,070 level. Kaminsky said M&A activity alone won't move the markets higher and that it would take a number of components to do that. He also said that fears of a discouraging jobless report on Friday could have sent the markets lower today. Adami said a poor jobless report could be bearish for the dollar but bullish for the market on the assumption that rates won't be going up anytime soon. Bob Pisani, the moderator of the show, asked Steve Cortes, founder of Veracruz, to comment on the likelihood of higher rates. Cortes said he could tell rates are going higher from the tepid respond in recent Treasury auctions and the difficulty in finding Treasury bears. Cortes said money fund managers may have no choice but to put money into equities if they are not getting much of a return from Treasuries. He also said the dollar is not going to go higher because the U.S. is going to face the same kind of sovereign debt risk problems plaguing Europe.