NEW YORK (TheStreet) -- The S&P 500 climbed 0.13% following the Federal Reserve's decision to postpone hiking interest rates for a "considerable time."
On CNBC's "Fast Money" TV show, the trading panel gave their views on what happens to the market now.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, pointed out the CBOE Volatility Index (VIX.X) was pushed even lower on Wednesday despite its rally in the early part of the session. Large-cap technology, industrial metal companies and financial stocks continue to do well and look attractive.
Read More: 10 Stocks Carl Icahn Loves in 2014
Tim Seymour, managing partner of Triogem Asset Management, said mining companies are likely to struggle due to the lower prices of gold as a result of the higher U.S. dollar. The rising dollar will also likely add volatility to the stock market and put downside pressure on companies with international exposure as well as commodities.
Brian Kelly, founder of Brian Kelly Capital, said that so far the rising U.S. dollar has not affected the stock market. However, he suggested it is only a matter of time before heightened volatility returns. He would start to look at commodities on the long side, he said.
Guy Adami, managing director of stockmonster.com, said it is odd bonds sold off on Wednesday considering the Federal Reserve plans to keep interest rates low. Generally, it would make sense for bonds to rally as rates decline further.
Paul Hickey, co-founder of Bespoke Investment Group, said that in the week following Fed announcements the S&P 500 usually has trouble moving to the upside. The three sectors that struggle the most include consumer discretionary, transportation and industrials. Three companies he wants to avoid, in part due to the rising U.S. dollar, are Las Vegas Sands (LVS) , Caterpillar (CAT) and Boeing (BA) .
Seymour is not a buyer of Caterpillar, which will likely see earnings headwinds emerge in Europe and Brazil. Kelly said he would be a buyer of Boeing if the stock can break out of its recent "consolidation pattern."
Adami said shares of Pier 1 Imports (PIR) could continue selling off following its recent earnings miss. He would avoid the stock for now.
Najarian said he is not yet a buyer of General Mills (GIS) , which missed on earnings and revenue estimates in the most recent quarter. The company has rising costs and falling margins, he added. Seymour said General Mills has to improve its operations before he would be a buyer. He likes Pinnacle Foods (PF) . Kelly is also not a buyer of GIS.