Trading the Big Week Ahead 8/24/26

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**Scott Wapner** (1:00)
I'm Scott Wapner and you're listening to CNBC's Halftime Report, the podcast, the most profitable hour of the trading day. We record this live weekdays at 12 Eastern. Listen in.

**Scott Wapner** (1:15)
All right, David, thanks so much. Welcome to the Halftime Report. I'm Scott Wapner, front and center this hour, this pivotal week for stocks and video reporting. The Fed chair speaking and Tim Cook spends his final week as Apple CEO. We discuss, debate all of it with the Investment Committee as always. Joining me for the hour, Joe Terranova, Shannon Sakosha, Jim Labanthal, Steve Weiss. Take a look at the majors here. We are mostly red. The Dow is eking out a little bit of a gain here. Obviously, we have a huge week ahead and everybody knows what's at stake on all fronts.
Nvidia's report, the chair wore speech on Friday from Jackson Hole, especially given what's been happening in the bond market. Let's take a look at yields, because yields are lower today on a report by our very own senior economics reporter, Steve Leesman, that Secretary Besant could tap the trillion-dollar Treasury General account to fund the buybacks. Here's the president from later on Friday when asked about the administration's efforts to get yields down.

**SPEAKER_5** (2:19)
Did you direct Secretary Besant to intervene in the bond market?

**SPEAKER_6** (2:23)
No, not at all. No, he's a very capable man. He wanted to do it. He's very good at it. He is a good touch, very good natural touch for the bonds and interest, and he did that, yeah.

**SPEAKER_5** (2:34)
The yields have come back up since then. Have you talked to him about another type of intervention? Is that something he will be doing?

**SPEAKER_6** (2:40)
We have many types of intervention. That's one.
The ultimate intervention is our military. And if we have to use that, we will.

**Scott Wapner** (2:48)
All right, well, that was on Friday. Social media had a field day, obviously, on that.
We figured we'd ask our former Navy man.

**SPEAKER_7** (3:01)
Go that way with this.

**Scott Wapner** (3:03)
What would we call that operation, Jim?

**Jim Labanthal** (3:07)
I don't know because I don't know who the enemy is. I mean, Operation Anti-Bond Vigilante.

**Scott Wapner** (3:12)
Vigilante Fury?

**Jim Labanthal** (3:13)
Vigilante Fury.

**Scott Wapner** (3:14)
I like that.

**Jim Labanthal** (3:16)
You know, here's a side note. The vigilantes are not in one geographic location where you can bomb them from the air. They're dispersed. They're many people. It's hard to identify them.
I truly don't know what he means by that. Now, we all know that he wants to get interest rates down. We want to get interest rates down. I think this is a time to actually focus on getting the job done and talking a lot less, doing a lot less bluster.
There are things that are going on right now that need to continue like the Iran blockade. That needs to continue. That's being very successful. And we'll hear from Treasury Secretary Bessent today on what these sanctions are that are going to be announced, all of which should eventually drive Iran to the negotiating table and bring oil down with it. But we have an interest rate problem right now. We have an inflation problem right now. We don't quite know where the Fed is in all of this. And Scott, yes, I'm looking forward to Friday. We'll get a little bit of, we'll get some more information. How much, we don't know. But certainly Kevin Worse should give us some information on what his thought process is, what the FOMC's thought process is. But right now is a time to stop the bluster, stop the talking and get things done.

**Scott Wapner** (4:23)
Well, Weiss, the leaseman breaking news today had at least a bit of an impact on the market. It's taken the edge a little bit off of yields, but we're still so focused on that obviously, as is the administration, that's clear.