CNBC Daily Open: Markets look past soaring U.S. budget deficit

* US budget deficit hit 5-year high at $432.3B in July. * Ford to expand US production of Lincoln vehicles from 2030. * Meta and Nvidia release open-weight AI models amid US-China tech race. The US budget deficit hit its highest monthly level in over five years, reaching $432.3B in July. Traders now see no rate cuts for the next five years. Norway's sovereign wealth fund posted a record $184B profit, boosted by Nvidia, Apple, and Microsoft. Ford Motor will ramp up US production of Lincoln vehicles from 2030, phasing out Chinese imports. Meta and Nvidia released open-weight AI models to compete with China. Geopolitical tensions in the Red Sea continue, though markets remained largely stable. In Europe, solar eclipse-driven travel demand pushed hotel prices above $1,000 per night.