Live in the NASAC markets, in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight.

Friday fireworks, weak jobs data, prompting the president to oust a Labor Department official,

the latest report, sinking stocks and sending investors searching for safety.

How should you position as we head into next week?

We'll debate that.

And Amazon anguish, the tech giant, erasing more than a month's worth of gains after its earnings last night,

and leading the losses in the NASDAQ 100. What warning signs could be found in the results,

and can the company stage a rebound from here?

Plus, charting the utility stocks with the sector at records are any names worth a buy now.

Figma in focus on its second day as a public company and a couple dots of green and otherwise deeply red market. We make sense of these up moves in a trio of sectors. I'm Melissa Lee. Coming to you live from studio at the NASDAQ on the desk tonight. Bono and Eisen, Steve Grasso, Tim Seymour, and Carter Braxton Worth. We will get to the President Trump's to president's firing of the Labor Statistics Commissioner in just a moment. But we start with what amounted to be a very sharp sell-off to wrap up the market's worst weeks since May. The S&P dropping 1.6 percent, its fourth day of losses in a row, the benchmark index, which hit an intraday record just yesterday, hitting its lowest level in two weeks.

The NASDAQ saw even bigger losses down more than 2% while the Dow shed nearly 550 points.

Yields meantime sinking the two-year down over 25 basis points.

That's its biggest drop in nearly a year.

The flight to safety coming after a much weaker than expected jobs report payrolls growing by 73,000 in July.

That is less than the 100K estimate.

And June numbers were revised sharply lower as well.

The disappointing data upping the chances of September rate cut by the Fed from less than 40% to more than 80%.

But what does that say about the strength of the economy and the recent rally?

Steve, what do you say? Yeah, so we've had the fastest and the strongest recovery from a sell-off back in April

that we've ever had in the history of the markets. So this was sort of primed. Everyone questioned what we priced to perfection.

So if you look at everything that the market has done well, it's checked all the boxes. If you look

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