Their stalled contract negotiations. And it may be working. Heres cbss mark strassmann. Reporter l. A. Is a city counting strikes like a bowling alley. 11,000 city employees, all Union Service workers, are staging a 24hour walkout. Theyre indignant. Contract talks with the city have sputtered. Think of all this as a warning shot, a 24hour reminder of what disruption feels like. Here in l. A. , its the cost of living. Reporter custodian phyllis stringer echos the frustrations of hundreds rallying outside city hall. Double trouble low wages, high inflation. We need some help. Youre working too hard and making too little . Yes, yes. You know, we need a lot more employees to come out to work with the city. Reporter more walkouts. Two hollywood unions have struck the set. Without the more than 75,000 actors and writers, all Studio Production has stopped. Whats scarce here, insight into an end in sight. L. A. s labor actions just the latest in americas summer of strikes. Widespread walkouts
Special counsels investigation. The big question is how much will a judge allow him to say about his case . And those dangerous wildfires raging across hawaii right now. The coast guard says its already rescued multiple people who jumped into the ocean as an escape from those wild flames. Our nbc News Reporters are following all of the latest developments, but i want to start right there, talking about maui, dealing with those terrifying wildfires. Maura barrett is following this story. What more can you tell us . Reporter well, chris, its really a dire situation. Just about 8 00 a. M. Right now in hawaii, so were finally starting to get some updates from officials, but unfortunately because were seeing thousands of people without power, down power lines on the roads, downed trees, theres a lot of issues with communication, in terms of firm details about how many injured there might be, and rescue efforts and Fire Fighting efforts is limited, due in big part to a massive category 4 Hur
Im charles payne. This is making money. Breaking right now wall street is coming around to a. I. , playing catchup as a matter of fact. There were flury of up grades this morning but great youre playing catchup. Youre ahead of the game. The bears have made a trench. Beware, this market is going to fall apart. Microstrategy is on fire. Theyre calling Michael Saylor, the moderndaybunk bunker hunt. That is not a good thing to be called. He was ridiculed and laughed at. Talk about a special guest how expensive taco bell is. Scott martin is back. Looks like he is having the last laugh. My takeaway on the again, once again, where the market and the street are all off base particularly when it comes to main street. We have a lot of evidence on that today. All that and so much more on making money. Charles all right, well i guess you could say better late than never but all of sudden wall street cant get enough of a. I. , right, including nvidia at the top here. Bank of america now, they have
Expecting from that Earnings Report out tomorrow. Im melissa lee, this is fast money. On the desk tonight, tim seymour, bono win, dan nathan and chrisser is roan we start off with the wild ride on wall street today the dow is down 466 points at its low but finished 160 points up the s p 500 shedding half a percent. The vix mirroring the markets move, hitting 18 for the First Time Since may before pulling back some, still higher, closing above the 16 mark. But one sector stayed under pressure all day, than would be software stocks. The igv closing below its 50day moving average for the first time in more than three months one big drag on the group, data dog, the Cloud Computing company slashing guidance, seeing shares drop 20 thats its worst day since the start of the pandemic. So, did the news pull a pal over the whole a. I. Trade add that into your action, dan that was trouble its less about a. I. And more about a rising tide lifting all boats. When you think of the consumption space
Issue. Ticket prices, travel, accommodations, all expenses well talk to the ceo of vivid seats about all of this, kelly. But first, a check on the markets which are recovering after some worrisome early trading. The dow is down 466 the lows and little shy 268 right now, pretty big volatility in both stocks and in bond yields which went below 4 before reversing a little above that level. While Everything Else is down, healthcare names, some of them, bio tech are booming lily is soaring on positive results fueled by its obesity drug push. More on that in just a bit with the shares of almost 14 same for novo nordisk. The banks, moodies cutting the ratings of ten u. S. Banks. Leslie picker is here with more. These we call them the big regionals and maybe some of the trust banks. Is that right . Thats exactly right. There are 27 ratings actions in all, all along this same thing Interest Rates likely to remain higher for longer. Amid quantitative tightening assets, loans and liabilities depo