All right, right now and fast, an October surprise, stocks surging out the gate to start

the last quarter of 2022 and rates dropping sharply as hopes for at less hawkish Fed, they

start rearing up.

So is this a case of bad news, is actually good news and can this rally hold?

And speaking of surprises, OPEC plus redding its biggest output cut since the start of the

pandemic, what it means for oil prices and that data point that everyone is watching,

inflation.

Plus, Tesla gets trounce, box jumps higher and credit Swiss.

Balses off record lows, the headlines driving those stocks and the trades behind them.

I am Frank Holland in for Melissa Lee and this is fast money live in the Nasdaq market

site right in the heart of Times Square.

On the desk tonight, we have Dan Nathan right here to my left, Guy Adami, Karen Feinerman

and Julie Beale of Kane Anderson Rudney.

And we start with a major rally to kick off October and of course, Q4, the benchmark index

is all rising more than two and a quarter percent, the Dow rising more than 900 points at

its highs, the S&P up as much as 3.1 percent.

And then meanwhile, Treasury yields drop to their lowest level in nearly two weeks with

a 10 year, very briefly falling between 3.6 percent.

You got to remember, it touched 4 percent just last Wednesday.

The moves coming after the Dow and the S&P wrapped up their worst month since the start

of the pandemic.

But is the stock market rally just an oversold bounce or is there some real reason to

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