Right now on fast powell on the clock, the final decision this year on rates just hours

away.

But one top market watcher says investors are paying too much attention to rates and

not enough to attention to the Fed's other big tool.

Plus, Merck and Moderna's moonshot, the promising results from a new treatment for skin cancer

that combines immunotherapy and mRNA technology, the off-the-charts stock reaction coming

up.

And later another Tesla tumble, the softdown 10% in two days and roughly 40% this quarter

is the dented EV maker opening the door for the rest of the industry to catch up.

And fresh troubles for TikTok, two more states taking action against the app in a new bipartisan

called the Banit.

I'm Melissa Lee.

This is Fast Money, life in the Nasak Market site on the Destinites Deep Grasso, Dan

Nathan, Guy Dami, and Bono and Ison.

And we start off with the market's post-CPI roller coaster that, out giving up most of

a 700 plus point gain as investors digested what a better than expected inflation report

could mean for the Fed's decision tomorrow.

After dipping into the red a few times during the session, the index closed up just 100 points.

The Nasak fair somewhat better rising over a percent that it had been up nearly 4% at

its highs of the day.

The S'd be also holding onto gains, but take a look at the move in treasuries.

This is interesting.

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