- Reuters/Charles Platiau
Here is what you need to know.
Trump meets Putin. President Donald Trump and Russian President Vladimir Putin meet in Helsinki on Monday with no clear specific goals, the Associated Press says.
China’s economy slows down. The Chinese economy grew at a 6.7% year-over-year rate in the second quarter, making for its weakest annual growth since the third quarter of 2016, data released Monday by the National Bureau of Statistics showed.
Morgan Stanley says a dreaded recession indicator is coming within the next year. The bank says a yield-curve inversion – something that has preceded every recession since the 1960s – will occur by mid-2019, and it has a plan to help investors get ready.
Hackers have stolen nearly $1 billion from cryptocurrency exchanges in 2018. A Wall Street Journal report has found that more than $800 million worth of crypto has been stolen from exchanges this year.
Goldman Sachs said to name David Solomon as its next CEO as early as Monday. The announcement, which has been months in the making, is expected to be made this week, The New York Times reports.
Deutsche Bank says it will post earnings way above expectations. The German bank says it expects a net profit of 400 million euros ($467 million) for the April-to-June period, well ahead of the profit of 159 million euros expected by analysts.
Amazon Prime Day kicks off. Amazon’s biggest sales event of the year starts at 3 p.m. ET and continues through Tuesday.
Stock markets around the world are mixed. China’s Shanghai Composite (-0.61%) lagged in Asia and Germany’s DAX (+0.14%) is out front in Europe. The S&P 500 is set to open little changed near 2,803.
Earnings reporting picks up a bit. Bank of America and BlackRock report ahead of the opening bell, while Netflix releases its quarterly results after markets close.
US economic data keeps coming. Empire Manufacturing and retail sales cross the wires at 8:30 a.m. ET. The US 10-year yield is up 1 basis point at 2.84%.