Live from the Nazak Market site in the heart of New York City's Times Square,

this is Fast Money. Here's what's on tap tonight.

Heading for the exit is rates tumble today, investors who have flooded into the Mag7 software

stocks and even the obesity names they all raced for the door will break down

where the herd migrated and if this is a move that has staying power plus

hitting a break shares of Tesla tumbling on

reports the companies delaying the much-hiked robo-tax the details and the fallout

coming up and later Delta's turbulent day, despite reporting record earnings, a crypto darling announcing a big stock split

and the NFL Commish weighs in on giving private equity a seat at the table.

I'm Melissa Lee coming to you live in the studio be at the

NASDAQ on the desk tonight. Dan Nathan Guy Damme, Tim Seymour, and Steve

Brasso and we start off with the Great Rate retreat yields dropping to

their lowest levels since March as a softer than expected inflation report boosted

hopes for a rate cut in September.

The 10 year falling below 4.2 percent while the 2 year was under 4.5 percent at its low that after the consumer price index fell a

tenth of a percent from May to June.

The first month over month decline since April 2020.

Markets now seeing a 90 plus percent chance of a rate cut by September sharply higher than just a day ago.

The move lower in yields understandably boosting rate sensitive sectors like housing, banks, retail, biotech small cups, the Home Builder ETF jumping more than six percent. b

bio tech small caps the home builder E. T.F. jumping more than 6% its best day since November

2022. The Russell 2000 hitting its highest level since March. All that made sense.

On the other hand, the recently red-hot mega-kept

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