Here is what you need to know.
3 CEOs have left Trump’s manufacturing council after the Charlottsville fallout. Merck CEO Kenneth Frazier, Under Armour CEO Kevin Plank, and Intel CEO Brian Kranzich have resigned from the council amid the fallout from Trump’s handling of the white-nationalist protests in Charlottesville, Virginia, over the weekend.
Germany’s economy is growing at its fastest rate in 3 years. Preliminary data shows Germany’s economy grew at a 2.1% annualized rate in the second quarter, making for the fastest growth in three years, according to the Financial Times.
UK inflation misses. Consumer prices in the UK rose at a 2.6% year-0ver-year clip, missing the 2.7% print that economists were anticipating.
Bitcoin hits a record high. The cryptocurrency trades down 4.39% at $US4,148 a coin after hitting a record high of $US4,449 earlier in the session.
Warren Buffett dumps General Electric. Buffett’s Berkshire Hathaway unloaded its entire $US315.4 million stake in General Electric during the second quarter while adding big positions in Sychrony and Home Capital, according to a regulatory filing.
David Tepper ditches Snap. Appaloosa Management, the hedge fund run by billionaire David Tepper, sold all 100,00 of its Snap shares during the second quarter, according to regulatory documents filed on Monday.
Pandora has a new CEO. Roger Lynch, the founding CEO of Dish’s Sling TV, has been named the new CEO and president of Pandora.
Stock markets around the world are higher. Japan’s Nikkei (+1.11%) led the advance in Asia and Britain’s FTSE (+0.41%) gains in Europe. The S&P 500 is set to open up 0.13% near 2,469.
Earnings reports keep coming. Coach, Dick’s Sporting Goods, Home Depot, and TJX report ahead of the opening bell and Urban Outfitters releases its quarterly results after markets close.
US economic data picks up. Empire Manufacturing and retail sales will be released at 8:30 a.m. ET before the NAHB Housing Market Index crosses the wires at 10 a.m. ET. The US 10-year yield is up 3 basis points at 2.25%.
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