1. China slowdown: China's huge economy is cooling just as trade tensions with the United States are heating up. The world's second-biggest economy grew by 6.7% in the second quarter of the year.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +24.00 | | +9.25 | | 0.00 | | +0.10% | | +0.13% | | 0.00% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +409.39 | | -23.62 | | -31.70 | | 22,597.35 | | 2,814.04 | | 7,619.63 | | +1.85% | | -0.83% | | -0.41% | | | |
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| | | Biggest Winners | | Arconic Inc | +6.85% | | | | Cimarex Energy Co | +1.93% | | | | Netflix Inc | +1.26% | | | | United Parcel Service Inc | +0.93% | | | Biggest Losers | | Waters Corp | -1.06% | | | | Stryker Corp | -0.98% | | | | Hasbro Inc | -0.59% | | | | FedEx Corp | -0.39% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | China slowdown; Netflix earnings; Smartphone hang up | | By Charles Riley | | | | 1. China slowdown: China's huge economy is cooling just as trade tensions with the United States are heating up. | | | | The world's second-biggest economy grew by 6.7% in the second quarter of the year. | | | | That was slightly slightly lower than the previous quarter and is China's slowest rate of quarterly growth in almost two years. | | | | The official figures released Monday suggest China is still on track to meet the government's 2018 target of about 6.5%, although the intensifying trade clash means the rate of growth is likely to continue to slow this year. | | | | 2. Netflix earnings: It's been a banner year for the streaming service and content creator, which reports earnings after the closing bell Monday. | | | | Netflix added 7.4 million subscribers in the first three months of 2018. It's now up to 125 million subscribers. | | | | Some experts think the company may have peaked. UBS analyst Eric Sheridan downgraded his target on Netflix stock this week to a "neutral" rating from a "buy." He thinks investors are ignoring the risk that rivals could eat into its market share. | | | | Shares in the company have ballooned by more than 100% in 2018. | | | | 3. Amazon takes over the internet: Amazon's annual Prime Day starts Monday at 3:00 p.m. ET and lasts for 36 hours — a full six hours longer than last year's discount bonanza. | | | | This year, members can get deals at Whole Foods too. | | | | Prime Day means far more to Amazon than a one-day annual marketing play. Amazon uses the event to spotlight its own products and hook new members on its Prime subscription program. | | | | 4. Smartphone hang up: Xiaomi shares fell sharply after mainland Chinese stock exchanges made it harder for investors there to buy shares in the company. | | | | The Shanghai and Shenzhen stock exchanges on Saturday banned mainland Chinese residents from investing in companies with two types of shares, a structure that gives some investors more power than others. | | | | Most Chinese investors have "a lack of understanding of these new types of securities," the exchanges said in a statement. | | | | The news drove shares in Xiaomi down nearly 10% during early trading on Monday. The stock later recovered most of its losses, closing down nearly 1.9%. | | | | 5. Global market overview: US stock futures were higher. | | | | Markets were mixed in Europe and Asia. | | | | The Dow gained 0.4% on Friday, while the S&P 500 added 0.1%. The Nasdaq eked out a record high. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 6. Earnings: Bank of America and BlackRock will release earnings before the open. | | | | US retail sales for June will be published at 8:30 a.m. ET. | | | | Shares in Deutsche Bank jumped 7% after the German lender said it expects a pretax profit of €700 million ($820 million) for the second quarter. | | | | The unexpected announcement is a rare piece of good news for Deutsche, which has been losing money for years, lagging its global peers and struggling to find direction following the global financial crisis. | | | | Markets Now newsletter: Get a global markets snapshot in your inbox every afternoon. Sign up now! | | | | | | | |
| | | | | | Monday — US retail sales for June; Prime Day; Bank of America and BlackRock earnings
Tuesday — Facebook, Google and Twitter hearing; Goldman Sachs and Johnson & Johnson earnings; Fed Chair Jerome Powell testifies before Senate Banking Committee
Wednesday — Morgan Stanley and American Express earnings
Thursday — BNY Mellon, Capital One, Domino's, Microsoft earnings
Friday — GE earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $69.82 | -1.19 / -1.68% | | | Gold | $1,243.80 | +2.60 / +0.21% | | | 10-yr | 2.83% | -0.02 / -0.77% | | | Euro | $1.17 | +0.00 / +0.25% | | | |
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