NEW YORK (TheStreet) -- The Dow Jones Industrial Average closed at a record high as the nonfarm payrolls report for the month of October surged past economists' expectations.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said it's clear the stock market wants to go higher. He added that next week will be pivotal from a technical standpoint for the next 100 points on the S&P 500.
Steve Grasso of Stuart Frankel & Company said eventually the Federal Reserve will taper, but right now investors don't care and keep buying stocks.
Josh Brown, a financial adviser at Ritholtz Wealth Management, said although the nonfarm payrolls result was better than expected, it still wasn't very good. However, the strength in the financial sector was important to see for a sustained broad market rally.
Brian Kelly, founder of Brian Kelly Capital, said bonds sold off hard. He added that along with the positive jobs report, GDP and ISM numbers came in strong this week as well.
Adami said he would be buying bonds and believes the 10-year Treasury yield will come down as well. He was also surprised to see the European Central Bank cut its interest rates.
Gap (GPS) reported better-than-expected third-quarter sales and raised its full-year guidance. Brown said the company is doing all the right things, but that he would not chase it after its 9% move higher.
Priceline.com (PCLN) beat on the top and bottom lines and Adami said the stock seems likely to continue higher because it's not expensive valuation-wise.