Life in the Nasdaq Market site in the heart of New York City is Times Square and this

is Fast Money.

Here's what's on tap tonight.

There are two charts and two parts of the markets are traders can't look away from.

Yields in energy will break down why the surge in the tenure and the crude climb continues

to dominate the conversation.

Plus, shoe dogs, cheers and Nike keep crumbling.

The stock now down almost 25 percent and just the last six months will earnings tomorrow

stop the slide.

What the options action is saying tonight.

And later, a landmark day for the marijuana industry, a Senate subcommittee approving a

bill to give weed companies legal access to banking services, the reaction from key players

ahead this hour.

I'm Melissa Lee coming to you live from Studio B at the Nasdaq on the desk tonight.

Steve Grasso, Guy Dami, Julie Biel and our guest trader tonight, Katie Stockton, a

fair-lead strategies.

And we start off with the newest milestone for interest rates, yields on ten years, surging

past the 4.6 percent market and closer to breaking above their October 2007 highs, the

benchmark rate is now up nearly 1.4 percentage points from its April low, massive move.

The rapid rise in rates taking a particular toll on a few sectors, real estate utilities,

industrials among the hardest hit over the past month, and while stocks close off their

lows of the session, even the attempted rally late in the day lost some of its steam.

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