Live from the Nazak Market site in the heart of New York City's Times Square,

this is Fast Money. Here's what's on tap tonight. From the diamond bottom to the diamond top,

the J.P. Morgan CEO telling investors with prices where they are right now he's not a

buyer should his hold rating keep you from diving in will debate that plus off

target the retailer's stock struggling ahead of earnings and now they're cutting

prices on

thousands of products in the store is this move a good sign or a warning shot ahead

of results and later shares of hymns and hers skyrocket on news they are

jumping on the obesity drug boom but can they compete

in a market where finding these gep one's and making them is a real challenge the company

is set to weigh in.

I'm Melissa Lee coming to you live from Studio of B at the Nasak on the desk tonight Tim Seymour Bono and Ice and Dan Nathan and Guy Adami.

We start off at the sharp reversal in shares of J.P. Morgan today, the big bank hitting an all-time high

early in the session, but then taking a tumble midday, the drop coming after CEO

Jamie Diamond at the company's investor day, said this.

I think we're in a very good position to continue investing in our future and we're not going to buy back stock now.

Chair, buybacks have been as a big driver for stocks this year,

just take a look at the games in Alphabet and Apple

since those companies announce

massive repurchase plans in their latest earnings report. But with stocks at

all-time highs, the Nasak posting a record closed today, the Dow

sending a new intraday before pulling back, have valuations gotten ahead of themselves and if Jamie Diamond's not

...