Good morning, Briefers!

Google (GOOG -0.61%) is bringing bankrupt airline Spirit back from the grave. Well, kind of.

It's buying Spirit’s data for $10M so it can use it to train its AI.

Turns out the most valuable thing Spirit owned was the list of people who flew on it…

What else are we talking about today?

• Meta (META -3.54%) is on trial.
• Japan’s growth misses.
• Disney (DIS -3.15%) goes for a ride.

STOCKS

• S&P: 7,745 (-0.52%)
• DOW: 53,459 (-0.51%)
• NASDAQ: 26,644 (-0.32%)

*Numbers as of market close on August 17th

Meta is facing a federal trial over claims its apps are designed to harm teens.

• In New Mexico, the court ordered Meta to pay $942M already.

Now, the case is moving into California, where more fines could be coming.

The stakes? The case could force big changes to Instagram and Facebook, and possibly even social media in general.

Only In Ohio

Nvidia (NVDA -0.06%) is backing OpenAI's new Ohio data center with up to $105B in credit and computing power.

It's acting like a bank, not just a chip seller, to lock in demand for its GPUs.

Reminder: Nvidia and OpenAI formed an official partnership last year.

Now that cash is being spent as AI and data center demand keeps growing.

GLOBAL SCOOP

• STOXX 600 (E.U.): -0.22%
• CSI 300 (CHN): -0.22%
• NIKKEI 225 (JP): -2.54%

*Numbers as of 5:00 PM ET on August 17th

Japan's Growth Misses

Japan's economy is growing, but not as fast as economists expected.

• It expanded at a 1.1% annualized pace last quarter, missing the 2% forecast.

What happened? Exports carried the growth side, but domestic spending slowed.

Softer consumer spending has already lowered the value of the yen, and hit earnings for companies like Toyota (TM -1.01%).

Walking Away

Iran says it won't extend the temporary nuclear deal, and oil prices are climbing on worries about supply.

WTI crude settled at $82.79 a barrel yesterday as a result.

• With the interim agreement gone, Wall Street is concerned more distruption in the Strait of Hormuz could be coming.

Both sides are now threatening escalation - that could make gas prices and everyday goods cost more.

ECONOMY

• US10YEAR: 4.73% (+0.00%)
• GOLD: $4,476 (+0.07%)
• BRENT CRUDE: $91.30 (+0.47%)

*Numbers as of 4:00 PM ET on August 17th

Pricey Plastic

Plastic wrap and food containers are about to get pricier.

U.S. ethane exports hit a record 800,000 barrels a day in June - ethane is made from oil and natural gas.

• It’s the primary ingredient to make plastic - and 62% went to China in June.

Why? China is buying again, pulling supply away from U.S. makers.

Not Seen Since 2007

Picture this: The iPhone just came out and you’re about to whoop your friends on a game of Wii Tennis.

We’re talking about 2007 - and the 30-year Treasury yield just went back there.

• The 30-year yield crossed 5.28% yesterday, a 19 year high.

Citadel Securities says the Fed's reluctance to resume tightening keeps rates elevated.

REAL ESTATE

• 30-year: 6.73%
• 15-year: 6.30%

Find the best mortgage rates in your area here.*

Wages > Price Cuts

58% of Gen Z says they want a crash in the housing market.

They want prices to fall fast so that housing can be more affordable.

• Experts say even a big price drop won't make ownership work without better wages or down-payment help.

In other words, experts say focus on income and savings, instead of waiting for the market to fall.

Housing Hits A New High

Home prices are still climbing, but buyers are starting to slow down.

• Zillow's (Z -3.05%) typical U.S. home value hit $361,774 in July.

The catch? Homes are also sitting longer before offers come in.

For buyers, that could mean a little more breathing room, while sellers may need to lower price expectations.

CRYPTO

• BTC: $64,167 (-0.48%)
• ETH: $1,901 (-0.55%)
• XRP: $1.00 (-0.49%)

*Numbers as of 4:00 PM ET on August 17th

Crypto Wallets Exposed

Shipping data leaks are exposing crypto hardware wallet buyers, leaving their home addresses in the hands of thieves.

Wrench attacks jumped 75% in 2025 - that’s when a thief steals a physical crypto wallet, rather than hacking the investor.

• Over $40M was stolen this way last year.

With your address, criminals can force you to hand over your crypto or other personal info.

Bitcoin Pause

Michael Saylor's Strategy (MSTR +4.99%) is selling stock to raise cash, but it's not buying Bitcoin right now.

• Strategy sold $333.7M in stock last week.

The reason? It's shifting from holding Bitcoin to paying down preferred shares and building a $4.8B cash reserve.