Fast money starts right now.

Live from the Nasak market site overlooking New York City's Times Square.

I'm Melissa Lear.

Traders on the desk or Tim Seymour, Steve Graso, Karen Finerman, and Dan Nathan.

Tonight, check out shares of Boeing getting slammed today after Bank of America

downgrades the stock as the analyst warns it won't just be a simple software

fix so we've got the details plus the IPO boom is starting to look like an IPO

bust as lift is back below its IPO price and Pinterest sets its price

range below its last valuation.

So how do you know which unicorns are safe to buy?

We will explain.

We start off with the markets on the edge of glory.

As the S&P 500 is within reach of its all-time highs, check out the sectors that are back from the brink.

Their forward price-to- to earnings ratios are at or near

where they were when the market peaked. Energy is slightly above its former valuation,

tech in line and financials just below. So since we are back where we were right before the market

started tanking last fall our stocks fairly valued right now and with earnings

right around the corner will that push these groups higher Tim? I was on the

edge of falling off my chair for listening

to that music sorry but yeah and for that that's what you get. So if you think

about what's different about the market now and possibly those highs because

the valuations are the same, one thing is that rates are significantly different.

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