Futures rise on Fed cut hopes, Cava plunges, Bullish IPO debuts

US stock futures edge higher as investors bet on a September Fed rate cut following July CPI data. Treasury Secretary Scott Bessent calls for a 50-basis-point move, though economists remain split. CoreWeave stock slid on weak guidance tied to AI data center buildouts. Mediterranean chain Cava (CAVA) sinks after cutting sales growth outlook for the first time since going public. Crypto exchange Bullish (BLSH) raises $1.1 billion in its NYSE debut, backed by Tom Farley, Peter Thiel, and BlackRock. Trending tickers include Tencent (TCEHY), Brinker International (EAT), and several airline stocks after airfare prices rose for the first time in six months.

Takeaways:

• Markets price in >90% chance of September Fed rate cut

• Kava slashes sales outlook, stock sinks over 20%

• Bullish IPO surges onto NYSE with $1.1B raise

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