stocks are rallying despite the recent banking crisis but  fast money  traders urged wall street to take a look under the hood especially ahead of the federal reserves latest rate hiking move on wednesday on tuesday the s  p 500 jumped 13 and closed above the 4000 threshold for the first time since march 6 making a recovery after the silicon valley bank collapse sent shockwaves across equity markets and raised investor fears of greater financial instability those worries eased tuesday following comments from treasury secretary janet yellen saying the government will step in if needed to guard the banking sector against further crises regional bank stocks surged and all three of the major indexes notched their second consecutive day of gains regardless fast money traders were skeptical of the rally noting the fed will have to navigate battling higher inflation against a weaker economic outlook investors are pricing in the likelihood of a 25 basis point rate hike on wednesday the s  p 500 seems to be trading as if the shakeup in the banking sector never happened said guy adami of private advisor group all these different things happen yet were right back effectively where we started from which is fascinating to me he said because i will tell you as much as you think these bank problems are over i dont necessarily think they are riskreversal advisors dan nathan agreed that investors seemed to be overlooking key risks if you believe that the stock market is a discounting mechanism it is not discounting the much higher likelihood of recession in 2023 right now he said still nathan pointed to the outperformance in the tech sector as possibly having some moats for investors the nasdaq composite is up 35 this month but others disagreed with that take saying that the rally in tech stocks might disguise more troubling conditions underneath when you look at the market caps of those nasdaq100 companies you would expect that that the s  p would be trending much higher given the performance that theyre contributing to that overall index said investor bonawyn eison and the fact that weve essentially been range trading with that outperformance to me shows that theres something under the surface thats not so positive