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Happy Friday. Another week, another ownership deal for a major league sports team. Two of the Atlanta Falcons
Stock futures are higher before the bell as traders look to rebound from Thursday’s negative day
Here are five key things investors need to know to start the trading day:
1. Bond the builder
Treasury Secretary Scott Bessent speaking with CNBC on Aug. 4th, 2026.
CNBC
Pressure is mounting on Treasury Secretary Scott Bessent after his department’s effort to soothe the bond market failed to stop Treasury yields from rising. In an exclusive interview with CNBC yesterday, Bessent insisted that the Treasury has a “big toolkit” to work from as he looks to pacify bond traders
- As CNBC’s Jeff Cox reports, tools in Bessent’s toolkit include moving to smaller auctions or altering the maturity makeup of the remaining debt.
- But Bessent could encroach on the Federal Reserve’s purview, setting up another test for the central bank’s — and Chairman Kevin Warsh’s — independence.
- The Treasury secretary told CNBC that his department’s debt buyback operation could exceed $4 billion, more than what was announced on Wednesday.
- Still, Bessent’s comments Thursday failed to send bond yields lower, in turncatalyzing a sell-off in stocks that left the Dow Jones Industrial Average down 700 points by the close.
- The S&P 500 is now on track for its worst week in nearly two months. Follow live market updates here.
2. Lost in translation
People sit at a Starbucks coffee shop in a shopping area on April 24, 2025 in Beijing, China.
Kevin Frayer | Getty Images News | Getty Images
American brands have long loved China. Chinese consumers aren’t necessarily loving them back
As CNBC’s Laya Neelakandan writes, companies ranging from Nike to General Motors have seen their business in the region decline in recent years as they struggle to convince consumers that their products are worth the price premiums. American brands are also losing their footing thanks to geopolitical tensions and domestic competition in China
To be sure, some U.S.-based businesses are bucking the trend. That list includes Lululemon and Ralph Lauren, the latter of which said its China business grew 40% in the most recent quarter
3. Of paramount importance
Rob Bonta, attorney general of California, speaks during a news conference in Oakland, California, US, on Tuesday, Aug. 18, 2026.
David Paul Morris | Bloomberg | Getty Images
The state attorneys general suing to block the Paramount Skydance-Warner Bros. Discovery deal don’t see an easy road to resolution
In an exclusive interview with CNBC on Thursday, California Attorney General Rob Bonta told CNBC that a settlement would require “robust structural remedies.” Bonta, who’s leading the group of 12 states challenging the merger, also said Paramount appears focused on discussing issues that aren’t central to their antitrust lawsuit. Paramount did not respond to CNBC’s request for comment
“We do prefer to resolve cases in the boardroom instead of the courtroom,” Bonta told CNBC’s David Faber. “But for now we’re bringing our case, and, you know, I hope they can focus on the actual allegations we make in our complaint.”
4. The root cause
New vaccine COMIRNATY® (COVID-19 Vaccine, mRNA) by Pfizer, available at CVS Pharmacy in Eagle Rock, CA.
Irfan Khan | Los Angeles Times | Getty Images
Vaccination rates are dropping in the U.S., but that doesn’t necessarily mean anti-vaccine sentiment is widespread
Many Americans appear to fall into what CNBC’s Annika Kim Constantino writes is a middle ground: They are neither pro- nor anti-vaccine, rather they have questions and concerns about shots that could make them susceptible to messaging on vaccines’ safety. “They don’t know who to believe, they don’t know what to believe, and that means that a lot of America is stuck in the middle, unsure and they’re up for grabs,” Drew Altman, KFF CEO and founding president, said
That uncertainty could result in a broadening public health hazard, especially as the Trump administration shakes up the country’s vaccine policy
5. Data dump
A demonstrator holds a “No Data Center!” sign during a protest against artificial intelligence (AI) outside Winchester Hall in Frederick, Maryland, US, on Saturday, July 18, 2026.
Graeme Sloan | Bloomberg | Getty Images
Backlash over artificial intelligence data centers is becoming a major political issue in races across the country
For some voters, the large facilities are a physical manifestation of AI, which they blame for rising electricity bills and job losses. A Tuesday memo from the National Republican Senatorial Committee obtained by CNBC said that data centers have become a “sleeper issue” in the midterm election cycle
Opposition to data centers isn’t only showing up at the polls, either. On Tuesday, while voters headed to the polls for several primary elections, two beverage companies released a satirical ad about how much water it takes to power the facilities. The ad pledged to “send your pee to the AI data center of your choice.”
The Daily Dividend
Here are some stories you might have missed this week:
- Disney-owned ABC files First Amendment lawsuit against FCC
- Nvidia’s AI moat is shifting from chips to capital
- Hyundai’s new flagship vehicle is a large luxury EV
- What to know about the ‘no tax on overtime’ deduction rules
- Bessent: U.S. likely won’t restart large-scale Iran combat as it steps up economic pressure
- Americans are going into debt for their favorite sports teams
—CNBC’s Jeff Cox, Matt Peterson, Sean Conlon, Fred Imbert, Laya Neelakandan, Annika Kim Constantino, Lillian Rizzo, Ashley Capoot, Garrett Downs and Jennifer Liu contributed to this report
Josephine Rozzelle edited this edition
