NEW YORK ( TheStreet) -- The markets rallied Wednesday on the Fed's encouraging beige book report. The Dow Jones Industrial Average jumped 83.56, or 0.72%, to 11,755.44, while the S&P 500 added 11.48, or 0.90%, to 1,285.96. The Nasdaq rose 20.50, or 0.75%, to 2,737.33. Guy Adami said on CNBC's "Fast Money" TV show that the financials showed leadership today that was aided in part by JPMorgan ( JPM) CEO Jamie Daimon's bullish comments about the sector the day before in an interview with CNBC's Maria Bartiromo. 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
Karen Finerman said she didn't see any reason why both Goldman Sachs ( GS) couldn't do well. JPMorgan caused a stir today when it downgraded Goldman to neutral from overweight. Joe Terranova said the financials have the potential to do well if they can improve their credit, loan growth and capital return to shareholders. He particularly liked the prospects for Citigroup ( C), which closed above $5 today. Brian Kelly sounded a word of caution, noting bank stocks have been on quite a run, with Bank of America ( BAC) up 37% since November and JPMorgan, up 21% over the same period. Kelly said the bank stocks continued to move higher on no real news. He said he would use any strength to lighten up on these stocks. Melissa Lee, the moderator of the show, said soft commodity prices spiked today from the impact of flood-ravaged Australia. Dennis Gartman said the country's wheat crop is destroyed and corn and soy bean production has been set back at a critical time when global demand for food is growing. He said U.S. farmers surprisingly haven't ramped up production. Gartman ticked off a number of trades that would work including Market Vectors Agribusiness ETF ( MOO), Deere ( DE), Mosaic ( MOS) and Potash ( POT). He also said small banks in the Midwest would be a good trade as farmers seek loans to boost production. With crude oil prices closing at their highest levels since October, 2008, Terranova said the two driving forces behind the rise is the demand recovery and potential supply disruptions. He said there are still tremendous investment opportunities in oil service, refining and integrated oil names.