10AM Hour: Brookfield CEO on Data Centers, Yen Intervention, Potential Pharma Mega-Deal 8/3/26

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**Sara Eisen** (0:57)
I'm Sara Eisen here with David Faber. We are live from Post 9 of the New York Stock Exchange. Carl Quintanilla has the day off. Oil prices are sinking this morning to start off a new month of trading, giving a boost to overall sentiment on Wall Street. We've got much more on all these cross currents in the market straight ahead. Plus, Brookfield's Bruce Flatt with us after news that his company plans to help develop a $100 billion data center campus in Kentucky.
And we'll also talk to the CEO of Hugging Face. That's the company that was hacked by a rogue open AI agent last month. But first, we do have some data, construction spending, ISM manufacturing just crossing. Let's go to Rick Santelli in Chicago for it. Rick.

**Rick Santelli** (1:35)
Good morning, Sara. Yes, let's start out with construction spending. For the month of June, expecting a positive number of up to 10s. Well, it comes in minus 1 10th, minus 1 10th of a percent. That would be the lightest since it was negative minus 3 10th of a percent in February. If we look at manufacturing, these are fresh July reads from the ISM. On manufacturing, comes in much better than expected, 55.6. That would be the best read in over 4 years, since May of 22 Now, we look at prices paid, and of course, we'd rather have these numbers go down, expecting 71 and the rear view mirror 73 It comes in at 71.1. So, pretty close to expectations, definitely less than our last look. That would be the smallest level, the smallest increase in prices paid, going back to February, when we were 70.5. On new orders, 56.7, exactly as expected. That would be the best read since the beginning of the year, when we were at 57.1. Second best read of the year. And finally, on the employment front, and what, a week? Of course, we have ADP and the Big Job, Job, Jobs report from BLS on Friday. Employment comes in better than expected. Expecting a number right at the expansion line of 50 comes in at 52.8. And this is a biggie. We are reversing many months of sub 50 Hasn't been above 50 going all the way back. And this is interesting. Since September of 23, so 52.8 now would be the best read since August of 22, basically four years. That is a big number to pay attention to. Let's see if we see better than expected numbers in the labor reports. Back to you.

**Sara Eisen** (3:29)
Okay. Yeah, we'll wait for that big jobs number on Friday. Thank you, Rick. Rick Santelli.
You know what I'm focused on today? Back to my roots in currencies. And by the way, this is why I love currencies, because they impact everything. This is why. I've been wondering.

**David Faber** (3:43)
Now I have the answer.

**Sara Eisen** (3:43)
A dollar yen is an important one, obviously, because that's the fuel. That's the liquidity trade that can influence everything, from fixed income to stocks. We're watching it very closely today. What you see is weaker dollar, stronger yen.
That is what Japan wants to see. And what they stepped into the market and intervened to do, what was so monumental about what happened is that the US joined and the US, along with Japan, both stepped into the market to basically fight the speculators that have made the yen super weak. It got so weak, it was almost at 164

**Paul Sankey** (4:17)
This was on Friday, Friday afternoon, we think.

**Sara Eisen** (4:20)
They confirmed that it happened on Friday, both the Japanese finance ministry and the US Treasury. This pic is so gold. It's Reuters captured this at the Camp David cabinet meeting. This is Secretary Besant on his to-do list by Japanese yen.