melissa and tim, what do you think?ke gold. >> i like gold for the reasons tom pointed out, gold is like drafted a cornerback from the s.e.c. you're good here gold has challenged the highs from last year there's a lot of reasons to own gold again, lower than expected inflation, some inflation, some s stagflation. it's all the gold recipe >> time for the second to the last pick. ryan reynolds putting all his faith in mark douglas. netflix, that was the first round pick tim seymour not loving it. mark, your second round pick >> i invest in products, not stocks the product i'm going to invest in, which happens to be a stock, is lululemon >> wondering if lulu was ever coming off the board tell us why. >> i think the product, the athleisure market has a lot of growth lulu is the premier company in that market. as people start to go to work and also stay home, they have a lot of room to growth. >> you go to their stores and they're invariably, not packed with people, but doing a brisk business they have good quality products

melissa, bring us up to speed.as telling you remember to go towards the front of the market tend to see that violence beginning this afternoon the last couple of weeks every time as you can see just over here, the more peaceful protesters and this march goes way back. we don't know the figures of the number of people who turned up but it determined many today in paris and other french cities as well, but it is further down there. you're already seeing some remarkably violence because john , what we saw last couple of weeks are the more far left extremist elements really taking center stage to these protests, and that is happening up there again in front of that cafe projectiles being thrown week after week. tear gas from the part of police also accusations last couple of weeks of some pretty heavy handed tactics. the exaggerated use of targeted targeting of the press. john as well, there are some 45 investigations underway here looking into police violence, and there is that ever more friends than ever more vocal e

back to you, kate. >> hey, again, melissa huge kwaufquarter for melissa. that same-store sales number increasing 12.6% in every segment across the globe, far above projections. the ceo acknowledging macro challenges, including stubborn inflation and expressing optimism about what the future holds at mcdonald's. >> still by the end of the year, we're going to be looking at, i think, probably high single digit inflation on a full year, which is certainly much elevated than what we've been used to over the last, you know, kind of prior period, where we typically would be in the low single digits, so -- that is pressuring margins, we're trying to be very thoughtful about how quickly we pass on this pricing to consumers. >> so far, the company's seen growth across the customer base, not just the lower end consumer. and while those consumers are more mindful of how they're spending, mcdonald's is saying that demand for the brand remains strong another thing we've been hearing from analysts and the stock hatz been performing very well on that news. back over to y

yeah melissa bell. so you know, we are looking at pictures now of a small barricade on fire in the middle of the street. and law enforcement on the move, trying to push the protesters back away from where this is taking place again. as you pointed out, these protests are over pension reform , an effort to raise the retirement age from 62 to 64 do it without a parliamentary vote. that is. what brought has brought people to the streets for 11 straight days, millions of people on some occasions, though, you say today fewer bicycles on fire right there. a smaller group of protesters, melissa but you say, perhaps more determined for violence as the evening hours approach. what more can you tell us about that? that's right, john those kinds of little fires that you'll see all along the protest liner where the protesters managed to successfully take on the looking at over here. many more of the unions, the peaceful protesters . it has been on the edges that you see those skirmishes. they have set up barricades

>>> and later, one of our traders says this chart is ready to break out i'm melissa lee. this is "fast money," we're live at the nasdaq market site. a full house here tonight. we're ready to go. we start off with the major warning out of the federal reserve. the minutes from the march meeting showing staffers believe the banking crisis would likely lead to a recession this year, yet the committee raised rates anyway let's get more from steve leesman, who joins us now. steve? >> yeah, melissa an interesting development, staff forecasters at the fed saw the banking stresses, remember, they flared up just around the time of the fed's march meeting and they saw them likely to lead to recession they previously said a recession was a possible or plausible outcome, but it was not their baseline at the time, in the prior meeting. here's what else they said they said inflation would step down markedly this year and inflation would slow sharply next year, and outcomes depend, of course, on the severity of the banking stresses that were out there. as for the actual officials at the

melissa? >> julia, thank you. julia boorstin you own disney, how do you feel about this >> we need to take a step back, how much impact will it have to earnings legal bills are going up it will be a distraction it may not have any significant impact on earnings but what i think, it is just a sad state of where we are in the world. i think it's disney's only choice they have to fight back and say enough so that's the push and pull between the societal and personal response and then the cold hard capitalist investor perspective, i don't think it has an impact to earnings. >>> still ahead on "halftime" following the latest developments on first republic shares taking another nose dive as we speak. we're going to break down that fallout right now down 20% plus, a bearish call on one financial services stock we have ownership on this desk e adnext or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with co

i'm melissa. have to say as we were seeing you in that amazing shot with thousands of people streaming by peacefully. we are also watching this exchange between the police and the protesters, as you were describing at the front of the march. throwing and kicking back and forth either smoke bombs that are tear gas containers. unclear exactly what they are, but they're just going back and forth they wore a moment ago. between the protesters and law enforcement, so that situation extraordinarily tense melissa 11 days of this. there we go again. you just saw things being thrown there. 11 days of this any sign of abating. but none at all. john robbie so yesterday were talks between the trade unions over this raising of the 64. the french government breakdown. the french government, saying it's standing firm is going to push this through and the union saying that sunshine this is going to continue by the end of the day, we'll hear about what the next day will be on those images you're seeing of the very

and the answer is money. >> melissa, i wonder if you do that assessment?ll it certainly seems tha the pressure from the trum campaign, and fear that fo would lose market shares t other competitors like away on and use max troublesome of this at least from the evidence tha seeped up during the course of discovery, but there is a lo going on in this trial, th actual malice standard that th dominion has to establish is a very high one, although we hav gotten more clear evidence tha fox did act with willful disregard of the truth, an knowingly misrepresented facts about nature, and scope of election fraud during th course of the 2020 elections so - you know defamation case almost open and shut for the plaintive. and then the question is reall going to shift to the issue of compensatory damages as you said, dominion is askin for 1.6 billion dollars in defense attorney jam it is fou count for the losses i suffered to his business, an to potential business becaus of what fox did during the course of this and again, that is a lot o money, and they're going to be a

so we're definitely seeing that as well dan, melissa. thanks very much, melissa, don reporting.ow we asked rory little who is a professor at uc law in san francisco about whether he thought the case was weak and why the former president was charged with felonies instead of misdemeanors. we know that this was designed to cover up the unfavorable information alvin. bragg has added other aspects to the case. not just the the hush money the stormy daniels, but the two other sources of unfavorable information and he's alleged to conspiracy of people to suppress this evidence, which is a violation of new york state law. i have to say i'm a former federal prosecutor in the organized crime section. we charge cases like this and if you can charge a felony, that's what you charge. the former president's next court appearance is scheduled for early december and here's another live look at the scene in mar-a-lago. the former president is scheduled to speak in about 10 minutes and just a few minutes to go. we were told that he is still revising this speech. he was working on it on the plane

ah, my name is melissa chan. thanks for joining us. we take a closer look at ty, wine, which defacto operates as an independent country, but is not diplomatically recognized by most other countries around the world. that makes its few diplomatic relations extra important, especially because beijing has been on overdrive to pick off tie ones allies one by one in recent years and get them to switch recognition in the attempt to isolate the island. this week guatemalan president alejandro jermanti visited taipei. he was received by taiwan presents high in when, with full military honors and a state banquet jama, take hold tight, not to worry, and that his country would stand with taiwan. or he's there in europe, a war, guatemala supports ty, ones, diplomatic objectives, which are aggressively securing national sovereignty. and protecting the entirety of the territory level, almost normal, promoting peace and taking part in international society as a sovereign country. laconia raw. the brazen china protested the guatemalan president's visi

thank you for your time. >> you're welcome, melissa thank you. >> gerard cassidy.of bank of america, karen >> well, i thought it was -- it was good, and it was good on the heels of already expectations being up a little, post-jpmorgan, some others i thought that maturity would be worse than it was. and i also thought, moynihan sounded to me pretty confidence about the consumer, though hi said, you know, our believe is mild recession, but he said consumers, i believe, consumers checking accounts have more money now than going into the pandemic now, is that a -- is that indicative of the consumer is in great shape or the consumer is scared and doesn't want to spend? that i don't know, but i thought -- i thought it was good i'm surprised, actually, that the stock wasn't up more it was up that day with jpmorgan, but i think it should have been up more more >> so, to the stocks, if you look at the kre, without the performance of new york community bank corp, which obviously got that big boost, you are actually down. it's the largest position in the kre, up 50% from that

murray o nyu law school melissa, break this down for us what is the doj asking for i today's appealth intermediate appellate court that judge kacsmaryk directl is right under, they're asking the appeals court to essentially stay judge kacsmaryk ruling so doesn't go into effect, so this can basically allow their appeal process to review all of the agency indications and all o their studies to make sure tha they can comply with thi process. so, it is essentially asking for the agency rebuke proces to be allowed to play out. and again, the first circuit has a lot of different options here it doesn't actually have t take up this decision in the seven days that were allotte by judge kacsmaryk they can actually just let the clock run out. and that will of course te this up to go to the supreme court, if the supreme court di nothing and this went into effect on friday, as it is planned to do. >> katie, 200 different bio fo groups signed an open letter blasting this decision with this change an entire industry, if one single judg can override the fda >> i would say not only coul it impact t

so, melissa, you can feel the temperature change in here inside the vault. what happens here? this is a three story vault? one way in, one way out. it holds the marshall papers as our largest and most important collection, but also about 500 other collections. we do keep the temperature and humidity controlled here differently than the library, is what you're feeling. this is also the workspace we have for items that come in the collection continues to grow and archive is never done. secretary state george marshall goes to harvard, goes to boston. the date is june 5th, 1947. he a speech. it's preceded this press release. it looks like the day before from the department of state. tell us about this press release leading up to this big event at harvard. so george marshall had come back from the moscow foreign ministers conference, very displeased. he didn't feel like the soviet union was living up to their end of the end of the war bargain at ty hamade he was very, very that the future of europe was in danger. and he gave a multi network radio address. the evening he got back fr

so, melissa, you can feel the temperature change in here inside the vault. what happens here? this is a three story vault? one way in, one way out. it holds the marshall papers as our largest and most important collection, but also about 500 other collections. we do keep the temperature and humidity controlled here differently than the library, is what you're feeling. this is also the workspace we have for items that come in the collection continues to grow and archive is never done. secretary state george marshall goes to harvard, goes to boston. the date is june 5th, 1947. he a speech. it's preceded this press release. it looks like the day before from the department of state. tell us about this press release leading up to this big event at harvard. so george marshall had come back from the moscow foreign ministers conference, very displeased. he didn't feel like the soviet union was living up to their end of the end of the war bargain at ty hamade he was very, very that the future of europe was in danger. and he gave a multi network radio address. the evening he got back fr

julia, take it away. >> thank you so much, melissa.u for joining us on the heels of reporting these first-quarter earnings >> yeah, thanks for having me. >> so, bill, let's talk about what's going on that's really weighing on the stock right now. first quarter results beat expectations across the board, but revenue guidance, disappointing in the second quarter. there is also concern about growing operating expenses why are the numbers disappointing in q-2 >> well, first of all, you know, i'm really proud of our team and the way they've continued to execute. we delivered a really strong quarter, coming in ahead of our guide on top line, bottom line, and user growth. we've clearly returned to user growth increasing shopability on the platform so, each of our comparatives, we're delivering beyond our expectations and making really great progress and revenue growth continues to grow faster than the ad industry overall. we feel really good about that at the same time, it, as you see from others, as well, you're still seeing some other large

i'm carl quintanilla with melissa lee. got news out of the federal reserve. steve liesman has that for us. >> carl, thanks. the federal reserve out with a report about the failure of silicon valley bank in which it will blame the svb, the supervisors and talk about changes that need to be made the first case it says that svb was a textbook case of mismanagement. that it failed to manage basic interest rate and liquidity risks as well. but the supervisors at the fed failed to take forceful enough action after they recognize these problems they missed the risk created by svb's mediocre growth before and after the pandemic for example, the bank failed before svb could be downgraded, even though downgrading discussions began months earlier in november. it demonstrates weaknesses in supervision and regulation, according to the report, and regulatory standards for svb and, indeed, banks were too low, the report says. also some blame for the board of directors who failed to oversee senior leadership at the bank. among the key findings, social media and technology co

we're grateful "the beat" with melissa murray in for ari starts right now. >> hi, nicolle thank you soh. welcome to "the beat." we're tracking breaking news out of tennessee these are pictures of celebrations in nashville, tennessee. just moments ago, the national metro council voted to reappointment justin jones jones was one of the two lawmakers expelled last week after protesting for tougher gun laws here is the moment that the council voted to reappointment him. >> justin jones has been elected as the interim successor for the vacant seat of tennessee house district 52, pursuant to the state law and the rule of governing a metropolitan council. >> jones is expected to retake his seat in the legislature tonight. and the legislature is gathering into session this hour so we could see justin jones' dramatic return to the floor secondly, later this week, a different local council in the memphis area may reinstate justin pearson, the other expelled lawmaker. we have a number of experts on all of this, plus, i will later talk to the councilwoman who nominated jones for reappointment. but

i'm melissa lee, this is "fast money. on the desk tonight, tim seymour, courtney garcia, dan nathan, and guy adami. we start off with two big red flags from the tech seconder to. taiwan semi posting its first monthly revenue drop in nearly four years last month. while full quarter sales were up from last year, they were still at the low end of previous guidance and then there's this. pc shipments in q-1 plunging 30% from a year ago. apple among the biggest losers, seeing numbers drop more than 40%. the news sending shares down as much as 2.8% today they slowed the day off by more than a percent and a half. so, what could the headlines portend for big tech let's bring in steve kovach for more on the latest i feel like we sort of new this was going to happen, but maybe this underscores that sort of what we new. >> yeah, mel, so, look pc demand fell dramatically. that's according to the new report we've been talking about it all day from the research firm idc and that big number. pc shipments down 29% year on year that's for

ah, my name is melissa chan, thanks for joining us. we take a closer look today at 2 of the world's most populous countries. india and china. china has claimed the top spot since the 1950s, but india is forecast to finally overtake china's population. they are both neck and neck at 1400000000 citizens. but india's population is set to keep growing, kicking in the twenty's sixty's, or china's appears to be already declining. keep in mind that because china and india collect census data differently, and we're talking about large numbers here that we do not know precisely when india surpasses china. but demographers say it is happening sometime this month. it may have actually already happened. now, despite india surpassing china's numbers, both countries have the daunting task of a growing elderly population that their economies will need to take care of. and both governments currently have inadequate social safety nets to ensure a dignified life. for many of those getting older between 20232015, the number of persons aged 65 are over, i

melissa padece de esta enfermedad desde hace siete aÑos, pero apenas la diagnosticaron hace cuatro.iencia se dio cuenta que es muy difÍcil diagnosticar esta enfermedad, asÍ que ahora tiene una organizaciÓn para concientizar a las personas sobre esto. ahora que aumentan las temperaturas es importante revisar que no se te pegue una garrapata. >> muy importante que cuando no ha ido a caminar que haga una inspecciÓn en su persona y sus perritos. si llega a encontrar una garrapata en su perrito muy importante agarrar la garrapata lo mÁs cerca de la piel posible y tirar rÁpido hacia arriba para asÍ evitar que cualquier pedazo de la garrapata se quede en el perrito. locutora: melissa me recomienda que si puedes guÁrdala en una bolsa, porque en algunos laboratorios puedes pedir que revisen. illinois está en el centro. ¿y qué encontrarás en el centro? el lugar donde el pasado inspira al futuro. ♪ ♪ innovación inigualable. ♪ ♪ el centro del descubrimiento. ♪ ♪ y aventuras inesperadas a tu alrededor. illinois el centro de todo. carla: pasar mucho tiempo ante la pantalla significa que sus hijos

ah, i melissa janet, thanks for joining us. it has been exactly 6 months since the halloween night disaster in seoul, south korea, when some 160 people died in a crowd crush in the popular party district. if you tay, one big questions remain about why so few police officers were on duty that night and why emergency workers failed to respond in a timely manner for one family who lost their son. the tragedy has been compounded by online abuse, simply for demanding government accountability. as a warning, this report contains references to suicide and death, which some viewers may find distressing to me on can no longer hug her son. his clothes will have to do my name. i love you so much. she says lead to hon. died in the crush during halloween celebrations last october, and downtown sole. cho long's to see him again. took some days. she plays a song he recorded for her birthday mo these father mourns in his own way. he stands outside the family's apartment for hours at a time, just like he did that night, waiting for his son who

also look at the trade we put in ahead of this week's results i'm melissa lee. on the

ah, my name is melissa chant, thanks for joining us. the indian government is revising textbooks and creating controversy for its choices on what to leave out. gone our references to gandhi's opposition to hindu nationalism and chapters on the moodle dynasty of muslim rulers . contemporary events being cut include the 2002 voyager rot, riots, violence that took place on prime minister to render modi's watch when he was then the states chief minister. his ruling party says these changes are necessary. blaming the former ruling, national congress party and left as historians for curricular that it says have been divisive. t w's ideal, but reports from delhi. it is the new academic term at the school in new delhi. these 12th grade students are getting the 1st introduction to do wise textbooks on history and politics. students will no longer find the full background behind my my gone these assassin some chapters on hundreds of years of muslim rule in india and references to the 2000 to withdraw riots in which war 1000 people mostly muslims,

ah, i melissa chan, thanks for joining us. the united states will strengthen military cooperation with south korea and has guaranteed to expand its nuclear commitment to the country, giving sol a central role in the strategic planning for the use of nuclear weapons in the event of war with north korea. president biden also pledged that any nuclear attack by pyongyang would be in the end of kim jung on regime. these very serious discussions and decisions were announced during president human secures 6 day state visit to the u. s. marking 70 years of friendship between the 2 countries. and this alliance could not have been better underscored then by the lavish dinner, the white house, through for the visiting delegation with president young, taking the stage and surprising guests with a performance of the classic hit song. american pie. yes, when i was in going to school, it was one of my favorite song. well we weren't here, you sing it. oh good me. 6 a for one more see maybe the movie. oh, well to see how that moment and, and u

melissa, what mor can you tell us about judg merchan's reputation in th legal community? legal street saying about him? >> well, out here in these streets, simone, he's known as a street shooter, someone wh does not bear grudges, not a vindictive. so, he's not likel to care about these twitte rant or these truth social run of the former president. he' someone who is known as playin it really fair, straight dow the middle, he's someone who controls his courtroom and that's going to be criticall important here because this is going to be something of a circus. it is not likely tha this trial, and it is likely t be a trial, because it i unlikely that this president will plead guilty at any point but when there is a trial, h will be charged with managin this courtroom, it seems lik that is something he does very well >> so, can you weigh in on thi point about, he oversaw th weisselberg case. and now, he' overseeing the strong case. is it unusual for a judge t oversee two cases against th same party >> as a general matter, an both federal and state court where there are relate

after burrito blowout keeps on going oil's big slide and tesla loses one of its wall street polls i'm melissa lee, this is "fast money. on the desk tonight, tim, karen, steve, and guy in the house. we start with an earnings alert on meta. posting better than expected revenue for the latest quarter the conference is just getting under way. julia boors rse tin's got the lt on the numbers >> meta growing by 3% on the quarter, rather than the 1% decline that analysts anticipated. this is its first quarter of year over year growth after three quarters of revenue decline. the company also growing its user base faster than antic anticipated, and bringing down the top end of this 2023 expense guidance range i spoke to meta's cfe susan lee, she told me they are seeing improvement in the broader ad market, though there is still a lot of macro volatility. she also said they've been investing a lot in improving the performance of their ads over time in this quarter , they are seein those investments pay off. i asked her about reels, and said consumers shifting over to reels continues to be an overall hea

. >> all right, let's bring an nyu law professor melissa murray. you just saw the house resolution failed. melissa, what is your reaction to what we see going on in nashville right now, above and beyond the tragedy of another state not adequately handling gun violence. even these votes and this process, what is your first reaction? >> i think it is heartening that she had this response. at least some of her colleagues seem to be concerned about what she is saying. it will be telling if they see the same response on the take-up the vote for representative person who is a very different kind of legislature from miss johnson. we're talking about this as though it's just an artifact of the tennessee legislature. this goes all the way to the supreme court. you don't get a legislature this gerrymandered for 72 of the legislators, over 25 of the legislators can vote to expel a fellow colleague simply for speaking his mind and reflecting the views of his constituents without the partisan gerrymandering that this horse has blessed in decisions like russo ve

not stop, never until every women, and pregnan person in this country i denied access to that care melissa murray is -- and judge of the u.s. court of appeals for the second circuit she is a co-host of -- podcast and full disclosure, - a senior correspondent for new york magazine has covered th attack on reproductive right for many years a former federal district judge, a senior lecturer at harvard law school it is great to have you guys together under strange circumstances and scramble together in the last few hours let's just start with the la here, melissa and i will go to you, nancy what is the argument that th plaintiffs made here that th judge has adopted? >> the argument is when the fd approved it 23 years ago i didn't undertake a rigorou review and it is true that there was an abbreviated process here but that is because the fda was relying on 20 years of data that have bee conducted in europe after th european union had approve mifepristone it was not operating on a blan slate. there was plenty of evidence showing the safety o mifepristone the argument here is that th fda has not

>> thank you so much, melissa, for having me.-term and forget that we have some really good longer term indicators. one of the indicators i really like to watch is this 14-month stovepipe. we were watching that and thought we would get a buy signal, and sure enough, we got a really good buy signal not only for the s&p 500, but also for the nasdaq. we have a weaker signal for the russell 2000, but it certainly looks like it's possible that the russell 2000 is bottoming out. and melissa, there's a few other longer term indicators where we got buy signals last week. and ones that you normally don't hear about one is called the topic indicator, it's a momentum indicator. this one sounds a little funny, and it's an old one that most people don't look at it's called the swide breath brust indicator. and that indicator very rarely gives a signal and when we get those signals, it's because we were very oversold and got overbought in a very short period of time. now, that indicator has kind of mixed results in terms of signals. but in the

and an msnbc analyst who previously worked with forme house speaker paul ryan an john boehner melissafor being here melissa, before we get to mike pence, i would like to get you take on the dueling abortion ruling by the federal judge in texas and another by federal judge in washington state. the texas ruling suspense fd approval of -- the washington state rulin upholds it so, what is next really quick? >> that is a pretty astute encapsulation of what is going on here. the emerald district in texas, that may be why the litigant sought to bring the suit i amarillo, they knew what the were getting with him. boy, did they get what they're asking for, so he has stayed the approval, it was approve 22 years ago, some would say that the time to challenge tha would have been 23 years ago here we are. but with this new ruling fro the washington district court, we have a conflict that means that what could happen is that the fda wil move to appeal that they have already appea this to the fifth certificate, which is the federal appellate court in texas, means that the knew what they were gettin

>> hey there, melissa. this was the highest ranking u.s.ian to meet with a leader of taiwan on u.s. soil since 1979 tsai ing-wen side-by-side with house speaker kevin mccarthy at the ronald reagan presidential library in california today. it's an enormously fraught session, because the chinese government says it objects to a high level u.s. political visit with a leader of a country the chinese see as a breakaway state. the taiwanese visit as a result is not an official state visit due to the ambiguous nativure of u.s./taiwanese diplomatic relations, so, this visit is being described as a transit by the president of the united states still, both leaders spoke of a commitment to each other and to democracy. >> the friendship between the people of taiwan and america is a matter of profound importance to the free world. >> we work in a world where democracy is under threat and the urgency of keeping the beacon of freedom shining cannot be understated >> the chinese government says it sees this meeting as a provocation. not clear what they migh

>> melissa, that's right the u.s.e filed new allegations over jpmorgan's relationship with disgraced and now deceased sex offender jeffrey epstein in this new document that was filed just a short time ago, in the ongoing court case, there are large new allegations, chunks of allegations that are redacted so, we don't know exactly what a lot of this new information in this case, but seems clear that a lot of it is coming from mary erdos, the head of the wealth management division at jpmorgan, who gave a deposition in this case recently. they cite her by name in this document but huge chunks of this is redacted, just blacked out you can't see what the allegations are at all but however, a couple of new details visible here, they are saying in this case that jeffrey epstein's contact was well-known inside jpmorgan, at the time that jpmorgan had its banking relationship with epstein. they say his behavior was so widely known that senior executives joked about epstein's interest in young girls. another detail here that app

melissa and her family grateful. >> i cannot thank them enough.e lucky to be here, to have people around us to care enough to do that. her picture has been found through all the loss and devastation. >> the family with a message for them. >> glad we can help your family. it is the least we could do. we hope the recovery goes well for you. >> after the death of a tech executive in san francisco we put the crime into context with perspectives from facts and feelings. >> see what a difference you made after a story only on abc seven about the damage done by storms to chinatown's iconic red lanterns. >> enjoy the sunshine while it lasts. we have rain returning this week. abc 7 news at 6:00 starts right now. >> building a better bay area, moving forward, finding solutions. this is abc 7 news. >> flowers mark the spot where a tech executive was killed in san francisco. >> thank you for joining us. bob lee was an influential member of the tech world which is shaken by his death tonight. >> the circumstances are still a mystery. >> the 43-year-old was sta

>> hey, melissa. it's great to be with you. the ceo of first republican made what was probably the most important conference call in the 40-year history of first republic in about 12 minutes and there was no q&a, so, he was very easy to take in, though it was painfully brief. the big news and the portrait that they wanted to portray was one of stabilization so, you saw, obviously, the deposits fell by 41% to 140 billion, more or less. that is, however, below the, you know, below the analyst estimate, and on top of that, you know, they basically said that since the end of the quarter in the past three weeks, they only fell 1.7% further. so, the image is stabilizing at first republic, however, you know, what are they left with? that's one of the questions. couple more points of sort of action here, you know, they're cutting up to 25% of their employees, that's a very deep cut. obviously they've talked about cutting executive compensation, closing offices and reigning in the real estate footprint. so, really, these are the steps o

i'm melissa lee, this is "fast money," live from the nasdaq market site. tim seymour, courtney garcia, dan nathan, and with us for the hour tonight, rebecca patterson, former bridgewater chief investment strategist and "fast money" friend. welcome, rebecca >> thank you >> well, the dow drops more than 100 points, the nasdaq falls nearly 1%. the s&p too close off over half a percent. much more on today's action in just a moment, but we begin with a developing story tonight on disney shares dropping once again today and down almost 3% over the past week as the battle between florida governor ron desantis and disney takes a new turn. disney executives reportedly calling on lobbyists to keep an eye on any legislation in florida that could hurt the company. c nbc.com's brian schwartz with the new reporting. brian what's the latest here >> well, this fight between disney and ron desantis is just heating up, guys what we're seeing here is right after that press conference this past week, where desantis effectively ripped disney and said he was moving ahead with h

robert >> well, melissa, california tax collections down 4% over the past year. rest of the states are up 11% now, one reason is the falling stock market and tech wealth that reduces capital gains revenue. but the big worry is that withholding taxes are also falling, that means payrolls the unemployment is rising in both states, especially among high income workers. they pay a lot more taxes. bonus income is falling. wall street bonuses down 26% this year. and then we have all that wealth flight those high income taxpayers who moved out to lower tax states during the pandemic. that may now be showing up on the tax rolls. both states have potential budget problems as a result of all this, especially as that federal raid runs out from covid. california had $100 billion surplus just six months ago, now it is looking at a $22 billion deficit. new york's budget is delayed as the legislature battles the governor new york city facing a squeeze from higher spending and slower revenue. mayor adams saying a $4 billion budget hole could force cuts in almost every city agenc

melissa, what would it loo like for the supreme court t take the abortion pill cases and how soon can that happen >> i think this is on a fast rocket to the supreme court. there is no way this doesn't g to the supreme court eventually right now, the judge's rulin is going to appeal to the fift circuit. it's a famously conservative court but that court doesn't have to do anything. judge casts a mare issued seven-day stay seven days before his stat goes into effect the fifth circuit set on thi for seven days and that woul really put this in the questio of whether goes to the supreme court. i think the fda would have t seek approval at the supreme court. they could ask which - has happened before. get the supreme court to tak this up to resolve the conflic between the washington injunction and this texa decision again issued by a single judge in texas, but a nationwide decision that would basically imperil all of mifepristone accessibility across the country >> the composition of this court -- a chance for justice kavanaugh to make good on what he said during the dobbs case that his deci

i'm melissa colorado, nbc bay area news. >>> a lot of layers to this story.here do we go from here? this is a double edged sword in many ways. a legal issue and a political chess match as we head into a presidential race. here is nbc's terry mcsweeney. >> president trump. will you come speak to us? president trump? >> reporter: tonight, we know the former president is facing 34 felony charges but one important piece is missing. he is charged with falsifying business records. misdemeanors that become felonies because he did so to cover up other crimes but the other allegedly covered up crimes are not mentioned in the indictment. dan farber says trump's attorneys will demand they be made public. >> what exactly is the related crime that turns misdemeanor cases of record falsifications into felonies. >> reporter: much of the evidence is not new. in fact, the federal elections commission and the previous district attorney reviewed the information they had and did not prosecute. >> the real question is going to be does he have evidence that will support the crimin

cnn's melissa bell is in paris watching the unrest and melissa have tensions . calm down at all since last we saw you earlier today. things are coming to an end here. the pleasure tell you, which is where this march ended today. you can see just behind me. the riot police are trying to clear out from the square. the majority of protesters as dusk falls here over paris have been a number of fires lit on this square over the course of the last hour, many of them now put out but now their aim is to really get the protesters to go home in the hope that that will put an end. to some of the skirmishes that we thought throughout the day. quite a lot of tear gas still hanging heavy over this square, but they're hoping that at this stage the protesters are going to go home. what we have just heard fredricka is that this is not over. beyond today's protest. this is what tends to happen at the end of the big days of protesting strikes, unions announced the next day will be we now know that the next day will be next thursday, just tonight before the constitutional council r

i'm melissa lee. this is "options action." we're live from the nasdaq market site. on the desk, mike khouw, carter worth, and brian stutland. let's get to the banks as we mentioned in just the last half hour, the fdic reportedly getting ready to put first republic into receivership shared falling more than 40%, halted for volatility several times. despite this, regioning banking ending the day today about where it started the week. unchanged. what does this tell us about the price of first republic, regionals and the banking sector as a whole what does the options market think? in today's session in particular, carter, it was strong. kre. even as news came out as being reported. >> right so the big debate, obviously, discussing it at the top of the hour, is it a one-off or four-off, or is it really something systemic? i think there will be more, but what we do know is it is not a j.p. morgan problem, and it's not a bank of america, not a citi bank, not wells fargo so you start to get into where we are in relation to the plunge what's important is a matter of trading