Here is what you need to know.
China’s economic data misses across the board. Retail sales, industrial output, and urban fixed asset investment growth all fell short of estimates.
Japan’s GDP crushes estimates. The Japanese economy grew at a 1% quarter-over-quarter clip in the second quarter, easily beating the 0.6% growth that economists were anticipating.
Traders haven’t been this bearish on the dollar in years. Traders have a net short position of $US7.4 billion, the highest since May 2014, according to Australian bank ANZ, citing US Commodity Futures Trading Commission data released on Friday.
Mogan Stanley says the euro will be worth more than the pound. A Morgan Stanley team led by Hans W. Redeker believes the euro will top the pound for the first time ever in early 2018 amid increasing confidence in the eurozone and uncertainaty surrounding Brexit.
Bitcoin busts through $US4,000 for the first time. The cryptocurrency trades at $US4,215 a coin, up more than 17% from Friday’s closing price.
Tesla will raise more money than first thought. Due to strong demand for the Model 3, the electric auto maker will sell $US1.8 billion worth of bonds, $US300 million more than initially intended, IFR, a Thomson Reuters unit, reports.
Angry Birds is going public. Rovio, the creator of Angry Birds, is looking to go public as early as next month at a $US2 billion valuation, Bloomberg reports, citing sources.
Dan Loeb ditches Snap. Dan Loeb’s hedge fund, Third Point, ditched its shares of Snap while making investments in BlackRock and Alibaba, according to a 13-F filing released on Friday.
Stock markets around the world are mostly higher. Hong Kong’s Hang Seng (+1.38%) led in Asia and Germany’s DAX (+1.03%) is out front in Europe. The S&P 500 is set to open up 0.58% near 2,456.
Earnings reporting is light. Premium Brands and Sysco are among the names reporting ahead of the opening bell.
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