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FOX Business Briefs 8/5

Growing confidence on Wall Street the Fed will soon resume rate cuts; Denny’s and Pizza Hut post lower sales as consumer sentiment cools; Marriott lowers expectations for the year; American Eagle shares soar.

China closes gap in AI model development

White House AI czar David Sacks warns that the U.S. may be only three to six months ahead of China in AI development as DeepSeek gains 20 million daily users and tops app store downloads.