it depends which meter you are referring to.
the meter on the left is your S-meter and also your TX power meter.
this one should show a carrier when TXing on AM, and should move upward a bit while talking into the mic.
on SSB this one should sit at 0 when the mic is keyed until you talk into the mic, then the needle should move to the right corresponding with your speech.
"bouncing around" as you talk.
now, the meter on the right is your modulation/ SWR meter.
it will only move on AM when in the MOD position.
it will not move on SSB. (maybe a tiny, tiny bit, but not enough to notice)
in the SWR position, it will read your SWR in the AM mode, but will not be accurate when in SSB mode.
the meter on the right really does nothing when you are in SSB mode.
best of luck,
loosecannon