Good Thursday morning. Welcome to Squawk in the Street. I'm Carl Kintanao with Contessa Brewer, David Faber, live in post-9 of the New York Stock Exchange. Sarah Eisen has the morning off.

Markets a little bit red this morning as InVity is down about 2.5%. It's unwinding a few days of recent gains. We're going to talk all about the quarter

and the guidance that we got last night from Jensen Wong. IT is a sector down about half a percent.

Treasury's reacting fairly well. Actually, the long bonds back below 4'9, as we see a lot of

steepening in the recent days. When we get to the hour, upheaval of the CDC, we'll talk to a former director

of the agency, Dr. Mandy Cohen, about the firing of the new CDC director, who was just sworn

in last month. As we said, Nvidia losing some steam despite the strong quarter. We'll talk to an

analyst who says the stock is still a top pick, and Open AI making some news this hour, a big

international push to gain share in enterprise details on

that breaking story straight ahead. First though, let's get to some housing data which just

crossed and Diana Ola Kassad for us. Diana. David, pending home sales in July dropped 0.4%

from June and were 0.7% higher from July of last year according to the realtors. The street was looking for a tiny gain of 0.4% from June and were 0.7% higher from July of last year, according to the realtors.

The street was looking for a tiny gain of 0.3%, so let's just call it even.

Now, this count is based on signed contracts, so people out inking deals in July.

When the average rate on the 30-year fixed was moving higher, you can see it began falling in August,

but that is not reflected in these numbers.

Regionally, sales dropped month to month in the northeast and Midwest. They were flat in the south,

and they rose in the west, interesting because the west is the most expensive region. Now, again,

while rates did drop some in August, just 16% of realtors surveyed said they expect an increase in buyer traffic over the

next three months. Now, given that these are signed contracts, I also want to note a very recent

report from Redfin that found these contracts being canceled at the highest rate since they began

tracking this in 2017. 15% of homes that went under contract in July says Redfin were canceled.

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