Right now and fast, one of the major averages posted big gains today and the baints are

bouncing back.

One of our traders says there are new signs of stress in the system coming from the

credit markets.

The details and the ripple effects straight ahead, plus Elon Musk's sounding the alarm

on China saying in CNBC's exclusive interview that Beijing's rising tensions with Taiwan

should be a concern for everyone, as you write, we'll debate that.

And later, building a mystery, mortgage rates keep climbing, but so do the builders.

We'll go inside, wins winning hand today, and then the monster option's action for

foul shelf.

I'm Melissa Lee.

This is fast money.

We're live with the Nasdaq MarketSide on the death of the night.

Karen Fineman, Michael Contapoulos, Dan Atheon, and Julie Beale.

We begin with the markets posting strong gains of money, center, and regional banks leading

the charge.

Semi's and travel stocks also marching higher.

While the equity markets are cheering, the credit markets are starting to sing a different

tune.

Small private companies are now defaulting on an alarming rate according to new reports from

UBS.

And repeat bankruptcies, companies that have defaulted once and are now defaulting for

...