Live in the NASAC market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight. A credit crinkle, banks taking a hit ahead of earnings, consumer finance

names slumping and private equity in the doghouse. Are these credit concerns a potential warning sign?

We'll talk about that. Plus, a discount drug deal, how the White House is teaming up with big pharma to lower drug costs. The impact it could have on your wallet and the stocks. And later, Corweave and Mehta's AI Power Partnership, how retail investors are missing out on some gains due to their so-called stock loyalty. And a betting blitz the way Amazon is priming its parlay in the sports betting space. I'm Melissa Leak. I'm Melissa Leake. I studio, be at the NASAC on the desk tonight. Karen Feinerman, Dan Nathan, Guy Adami, and Mike Co. Well, markets wrapping up Q3, trading in the green. The Dow closing at a fresh record high. The SP notching its biggest third quarter percentage gain since 2020. And the NASAC now in a six-month winning streak. We'll have more on the market moves

in just a moment. But we start off with what could be bubbling concerns about credit in this

market. Look at the big banks today. City, Wells Fargo, Bank of America, all notably lower.

The KBE bank ETF down almost a percent on the day. Private equity and alternative investment

firms feeling even more pain. KKR,

Apollo, Carlisle Group, all falling at least 3 percent, and then take a look at the consumer

finance space. So many of these names suffering, affirm, SOFI, Klarna, and Capital One. All of this

happening at the same time as two auto sector names that filed for bankruptcy,

parts maker first brands, subprime lender, tricolor holdings, underscoring just how much stress the low-end consumer is under. So you piece all these things together. Does it start

to paint a picture of a consumer starting to hit a wall of sorts when it comes to borrowing

and spending? And should we be concerned when it comes to borrowing and spending and should we be

concerned when it comes to banks and financial firms and the markets sky i believe so but i

also think well i don't think today was quarter end month then obviously so maybe there's some

rebalancing so i make a huge deal at it but But with that said, credit scores are now falling the

fastest pace since the great financial crisis or the global, depending on what your G is for that,

Dan. I'm a global guy. I'm a great guy. 90-day plus delinquency rates for credit cards north of 12%.

That's the highest we've seen, I think, in 14 years. That's with, by the way, the average rate being about 21.5%, $1.2 trillion. So, yeah, there are a lot of, and I could rattle off a few more. There are a lot of reasons to be concerned about the consumer and all those things on the credit side, but it has not manifested itself in the market at all. H.YG is hanging in there like a champ, and yes, today the banks were under pressure. Maybe it's a rebalancing thing, or maybe we're right to focus on it going forward. Yeah, you know, it's the access to credit maybe is the thing when you think about a Klarna or you think about some of these other buy now paylators, obviously, a firm. When you go to buy something on the internet, there's like four choices to extend those sorts of purchases.

And I think that might be something unique to this cycle.

The other thing I'd say about Klarna is like, yeah, it had that first day pop after its IPO.

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