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

Here's what's on top tonight. Bank on Gaines, major money centers soaring as they wrap up earnings season.

And with some of the biggest names trading at all-time highs, is there more upside to come?

We'll debate that. And rare earth lists.

We'll talk to the CEO of a company making magnets that do not rely on the

critical metals at the center of trade tensions, what they are doing differently, and how geopolitics

could impact their growth. Plus, United shares take off after earnings, AMD jumps on an

expanded deal with Oracle, and AI in Hollywood, media veteran and jib-jab founder Greg Spiridelli's about the future of entertainment in the world of AI. I'm Melissa Lee, come to you live from studio at the NASDAQ. On The Dest tonight, Tim Seymour, Karen Feinerman, Dan Nathan, and Guy Adami. Well, big bank earnings in the books, a number of financial giants jumped to records on the back of results. Morgan Stanley, Wells Fargo, BlackRock, all-notching all-time highs today.

Bank of America, which reported this morning trading near levels not seen since 2007.

But while strong investment banking and trading revenues help boost results,

potential credit concerns loom over the industry.

JPMorgan's CEO Jamie Diamond saying the bank upped its reserves for loan losses by $810 billion

in the wake of the bankruptcy of auto parts supplier first brands and warned there may be more trouble.

I probably shouldn't say this, but when you see one cockroach, there's probably more.

And so we should everyone should be forewarned on this one. So with the stocks trading at or near records, it begs the questions, should banks get re-rated or are they fully valued right now? Let's bring in Tom Misho, CEO of KBW, a Steeful company. We're bringing him at the top because we're better to add. I mean, this is, we don't use your opportunity. I'll deserve it.

Thank you very much. Thank you. So we'll start off with you. It does feel like we're at a moment where you can believe in the virtues of deregulation, what the banks will be able to do now with regulators off their backs, but at the same time there are these underlying credit concerns. How do you view valuations at this point?

So, so first of all, the fundamental story is very good.

There's a broader narrative, which is we think earnings per share are going to be 13% higher next

year. We are raising estimates for most of the banks. Just the revenue side is good, the expense side

is good, and the pipeline talk is good. I'll tell you, coming into the quarter,

there was a lot of concern about credit. We'd had the first brand's bankruptcy, the tricolor

bankruptcy, and there's concerns about consumer subprime credit. The numbers that we've seen so far,

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