Fast money does start right now. I'm Melissa Leith tonight's

trader, guyadami, Tim Seymour, Karen Finerman, and Dan Nathan coming up on

fast. More room to run. Morgan Stanley's chief equity

strategist says this rally is just getting started. Mike Wilson will join us straight up. his to face an uphill climb. And later Guy is introducing his windicator.

He says, take a look at this stock

if you want to know where the market is headed next.

We start off with another record close for the NASDAQ led by you guessed it

Big Tech Apple Microsoft Amazon Facebook all hitting record highs today and

here's an incredible stat the five biggest companies in the S&P 500 now account for nearly a quarter of the

index's total market capitalization. So how long can the leadership of these names

last and Tim, haters gonna hate but here we are at record levels.

Yeah, and if you look at the NASDAQ 100 is outperformed the S&P by 20% year to date, but by 13% since those March 18th lows.

So we talked about, you know, Amazon and a couple, maybe even Facebook were somewhat defensive

here for real reasons related to their core

business but some of the others have just been defensive because of the

balance sheet because the size of the business and because these are

companies that you know are going to be here tomorrow and have proven to be

reasonably profitable so that that's really the story. But it is important that PMIs

around the world over the last 24 hours were quite good. You actually had a

major recovery across Europe and I think people are starting

to see data points that matter. All that really matters is the Federal Reserve and that

suddenly investors don't seem to care about earnings in 2020 or 2021 and when you

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