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

Here's what's on tap tonight.

Markets in rally mode, major indices closing back in on records.

What's behind this move?

And can the good times keep rolling?

And rocking higher, we'll talk to the CEO of Smallcat Biotech Scholar Rock about how he's taking on the weight loss space and how its new drug is working with the big flyers.

Plus FedEx doesn't deliver in its latest

earnings report. Payment stocks power up after weeks of weakness and as temperatures soar across the

U.S. a look at the stocks keeping the grid running. I'm Melissa Leak. Home to you a lot from Studio B.

at the NASDAQ on the desk tonight. Tim Seymour, Dan Nathan, Guy Adami, and Danny Moses,

founder of Moses Ventures.

We start off with stocks surging again as investors hope that a ceasefire between Israel and Iran will hold.

The S&B jumping more than a percent, closing less than 55 points off its intraday record set in February.

The NASDAQ 100 actually setting a record close.

And while the Dow has a little more ways to go, that index still ended the session at the highest level since early March. Meantime, oil price is plunging another 6%

today, now below $65 a barrel. The move weighing in on energy stocks, which was the worst performing

sector in the S&P once again today. And take a look at Treasury. It's a yield on the tenure,

hitting nearly two-month lows.

Markets seeming to think the Fed is still on pace to cut rates soon. For more, let's bring in CNBC,

Steve Leasman. Steve did Fed Chair Powell in his testimony today give any belief that that was the

case. It sounded like it was not, that it was completely off the table and that it actually

was contradictory in some ways to what Waller and Bowman have said in recent days.

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