Live from the NASAC markets, I'm at the heart of New York City's Times Square.

This is fast money. Here's what's on tap tonight.

Propped up by momentum, a relatively quiet day for stocks, but not for a handful of momentum sectors.

How the jumps and semies, quantum stocks and crypto-related names are helping stocks stick to record highs.

And a potential crude comeback, WTI hitting four-month lows as the energy sector

lags the broader market. But could the oil trade pump higher in Q4, but one top energy

analysts is in store for the space heading into years end? And later, Baba bull market

run as shares of the China Tech giant just keep climbing. FICO shaking things up in the credit

score space and the next equity stake for the U.S. government, where President Trump may be looking to make a deal. I'm Melissa Lee. Come to you live from studio, Biazza, on the desk tonight, Tim Seymour, Dan Nathan, Guy Adami, and Julie Beale. We start off with movement in the momentum trade. The major indices is in and out of negative territory today and ultimately finishing

in the green, all three notching fresh record closes. But it's the moves under the surface that's

really catching our attention today. Semi-stocks ripping higher, the SMHETF on pace for its

fifth straight week of games with chipmakers like Nvidia, Micron, Lamb Research, KLA, all hitting

fresh record highs. Quantum stocks surging as well, Rgetdi computing, D-Wave and others with big leaps in today's

session, making their massive runs this year.

And the poster child for the retail trading boom, Robin Hood, hitting new highs.

Coinbase seeing its best day in four months as a crypto space sees a bounce.

Bitcoin crossing above $120,000 for the first time since mid-August. So even with a quiet day for the broader markets, is this momentum trade going to power the rally into year-end, Guy? Well, I will tell you, Tim Seymour's been talking about the semis and the importance of it. I'll say this. You know, today was a day where the market reversed, I don't know,

noon-ish or so, SMPs were trading lower, it made a new all-time high, you have this government shutdown, you have all these things in terms of valuations extended. Today was a day where the market could have really given it up, and it didn't, and it went back to exactly what you're talking about, momentum. Now, why is that? I wish I could answer. I think part of it is October, the chase is on, people behind the eight ball have to put money to work. And I think to a certain extent you're seeing that, and valuations be damned. You know, I'm surprised at how strong the market was in terms of those stocks, but nothing should surprise me at this point. Yeah, as far as the momentum, right? So we're seeing maybe some slight underperformance from that Mag 7 and some of the groups that you guys are talking about are taking off and then a Robin Hood is kind of interesting because that's where all this stuff is kind of traded on, right? I look at today and I said to himself, here's another situation where one of these neoclouds gets more detail about a contract from a major hyperscale. It's Microsoft to Nebius. Nebius rallies like crazy. We saw this with CoreWeave earlier in the week when they got this contract from META. So you're seeing this sort of performance, but META and Microsoft did not go up on the days that they are announcing those sorts of contracts. So to me, it feels like that sort of trade is getting a little bit long in the tooth. As you see some of this money move, you know, towards these other groups, you saw crypto, obviously, you know, Bitcoin's about to make a new high. But what also stuck out to me was recent IPOs. If you look at Bullish, you look at Circle, they're obviously crypto related. They had big days. So there's a lot of stuff going on.

Everyone wants to keep making this comparison to the tech bubble that we saw in the internet in late 90s. I think it feels a lot like 2020 and 2021. There's a lot of comparisons right now. Well, it feels like FOMO, and it feels like FOMO in anything digital. And it feels that this is a place where, you know, on a day or in the last 24 hours, we put a $500 billion market cap on Open AI. It's the largest private company in the world. They raised $6.6 billion on an employee sale. You have a couple other stories both in that market. There's even, you know, there's a German AI play, Deepel, which is talking about an IPO in the U.S., and it's just interesting that the rest of the world is bringing some of their stuff.

You have Samsung and Hynix also on a very big deal, also in cooperation of the open AI. And it does, by the way, remind you that Samsung really is maybe in terms of memory chip in this space, the big player to watch. I think a lot of U.S. investors, because that stock does not trade here, don't have a lot of exposure to Samsung, although you can get it.

So that's what today feels like, and it's,

of course, framed around this second day of a government shutdown that we spent a lot of time

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