Carl Quintanilla, David Faber and Michael Santoli discussed the markets and sectors that are thriving in wake of the recent pullback in tech. Add commercial real estate stocks to the list of equities hit by AI fears. Shares of Cisco down sharply as guidance on soaring memory chip costs overshadowed a Q2 earnings beat. McDonalds posted better-than-expected quarterly results, citing its emphasis on value meals and affordability. The anchors reacted to the House's passage of a resolution to overturn President Trump's tariffs on Canada. Also in focus: What the CEO of FedEx told CNBC ahead of the company's investor day, AppLovin's earnings and the slump in software stocks, a $13.5 billion deal to create a transatlantic asset-management giant.
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