Good Thursday morning. Welcome back to Squawk on the Street. I'm Sarah Eisen with Carl Kintania.

We are live from Post 9 of the New York Stock Exchange. David Faber joins us in just a moment with a big interview. Disney CEO Bob Eiger and ESPN chief, Jimmy Pitaro. As ESPN rolls out its new streaming service, that exclusive conversation coming your way in just a few minutes. First up, though, in the markets, we've got some pressure here.

S&P down about a half a percent. Only utilities and fairly energy positive right now. Everybody

else is lower. So the tech sell off continues. Nasdaq 100 down six-tenths of one percent.

Week to date now, two and a half percent. So we're about three and a5% off the highs, just to put it in context, as we've seen this reversal

out of some of these AI names.

No big catalyst, but a lot of people pointing to just valuation, digestion.

As for treasuries right now, the story has been actually lower yields, but they popped

higher.

The two-year yield, 3.78% got some PMI data.

That was pretty good on services in the last hour.

Jobless claims a little elevated.

The 10-year yield 4.33%.

Getting some housing data crossing.

For that, we're going to turn to Diana.

Morning, Diana.

Our existing home sales in July rose 2% to a seasonally adjusted annualized rate of 4.01 million units.

The street was actually looking for a slight decline, so that's a beat month-to-month.

Sales up 0.8% from July of last year.

Now, this count is based on closing, so its most contracts signed in May and June when

mortgage rates were on the decline. There were 1.55 million homes for sale at the end of July.

That's up 15.7% year over year and represents a 4.6 month supply at the current sales pace.

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