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

Here's what's on tap tonight.

Pause or pullback, some of last year's hottest trades dropping sharply from recent records.

Is this just a rally taking a breather or a sign of more trouble ahead?

And weighty issues, the obesity drug space front and center at this year's JPMorgan Healthcare Conference,

the latest from the top players in the space and what we might be hearing about potential

dealmaking. Plus, KB. Home on Solid Foundation after earnings are a pair of rivals teaming up

to buy U.S. Steel and why hedge fund titan Bill Aston is looking to take over Howard Hughes.

I'm Melissa Lee. I'm with you live from Studio B at the Nasdaq

on the desk tonight. Tim Seymour, Karen Feinman, Dan Nathan, and Guy Adami. We start off with

the major moves in some of the market's most popular names. Apple spending most of the day in

correction territory, ending down a percent, and now more than $25 off its post-Christmas high. Invida, Bitcoin, and Tesla down double-digit percentages.

All as a 10-year treasury yield hits a 14-month high after last month's blowout jobs report, last weeks, I should say.

And as chances of a rate cut this month lessen, the dollar index also on the move at its highest in over two years.

And don't look now, but a huge slate of earnings is upon us.

J.P. Morgan, Goldman Sachs, Wells Fargo, M. City, kick things off for the big banks on Wednesday,

followed by reports from Taiwan, Semi, United Health, and many more later this week. So, is this

just a temporary pause on the road higher for stocks, or are we nearing a major inflection point for this market guy?

That's an interesting setup, Melm. So here you go. I'll give you my sort of two cents.

An optimist will say, you know what, great reversal today off the lows. That was very impressive.

The Vicks backed off. Great day. We're going higher now from here.

Pessimists will say that's a pretty feeble bounce.

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