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

This is Fast Money. Here's what's on tap tonight. A massive market turnaround after one Fed official

signals there still may be more rate cuts in the new year. We'll dig in on the comments that seem

to get markets back in rally mode. And losing weight, shares of Novo Nordus getting skinnier after its next-gen

gen obesity drug draws disappointing results.

Meanwhile, Eli Lilly is that found just getting approval to treat sleep apnea,

so is Lily now the unparalleled winner in the space?

Plus American Express charges higher.

FedEx's post-earnings rally gets foiled, and the traders lay out their charts of the year

as we head into the last few trading days of

2024. I'm Melissa Lee. Come to you last from studio, be at the NASDAQ on the desk tonight.

Tim Seymour, Karen Feiderman, Steve Grasso, and Mike Coe. We start off with the Fed comments

that helped the markets turn around today. Stocks rebounding sharply after early losses,

after Chicago Fed President Austin Goolsby told her Steve Leesman,

he was encouraged by this morning's inflation data. The Dow up nearly 500 points while the

S&P and NASAC were each up a percent. Stocks did end off their highs of the session, though.

In all three major indices, we're still down for the week. For more on Goulsby's comments,

let's turn to Steve Leesman.

Five days before Christmas, and the Fed delivered to markets two dovish Fed officials and a friendly PCE. Chicago Fed President Austin Gooseby telling CNBC in an exclusive interview that the

funds rate is still substantially higher than the neutral rate, so there's room for the Fed to cut.

That's why I say over the next 12 to 18 months, if conditions keep on the way that they

have over the last 18 months, I think rates come down a fair bit more.

...