CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Deirdre Bosa walks through the legal fight between California and rideshare giants Uber and Lyft, after the two companies narrowly avoided shutting down operations in the state. Plus, with the S&P 500 hitting a new record, CNBC's Bob Pisani explains how the stock market can be so high while so many Americans are struggling and out of work.

CORRECTION (August 28, 2020) At 9:45, this video misstated survey results about whether ride-share drivers want to remain independent contractors. Uber and Lyft say drivers want to remain independent contractors by a four-to-one margin, citing a survey.

For more check out:

0:35 - Wall Street scoreboard
1:11 - Stock market highs vs. economy lows
4:33 - CNBC Soundcheck
7:33 - The road ahead for Uber and Lyft
11:36 - Numbers round

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