10 things you need to know before the opening bell
The GOP healthcare vote is on hold . Senate Majority Leader Mitch McConnell plans to delay the vote until Senator John McCain recovers from s urgery to remove a blood clot from his left eye.
China's economy tops expectations . The Chinese economy grew at a 6.9% year-over-year clip in the second quarter, National Bureau of Statistics data showed. It was the 10th straight GDP report that was either in line or 0.1% above expectations.Euro area inflation cools down . Euro area inflation printed up 1.3% year-over-year in June, according to Eurostat data, a bit slower than the 1.4% YoY reading from May.
Fed rate hike odds are sliding. The market sees a 40.4% chance the Fed lifts its benchmark interest rate before the end of the year, according to Bloomberg's World Interest Rate Probability data. That's down from a 51.9% probability one week ago.
China's steel production hits a record high . The NBS said steel output surged 5.7% to 73.23 million tonnes in June, topping the previous record of 72.78 million tonnes reported in April.
Cryptocurrencies got rocked over the weekend . Bitcoin fell nearly 20% to a low of $1,758 a coin and Ethereum plunged about 25% to a low of $140 an ether. Both have recouped a portion of those losses.
Sprint approaches Warren Buffett . Friday afternoon, a Wall Street Journal report surfaced suggesting that Sprint Chairman Masayoshi Son approached both Warren Buffett and cable mogul John Malone about a deal while attending the Allen & Co. annual conference in Sun Valley, Idaho.
"War for Planet of the Apes" wins the box office . The movie raked in $56 million at this box office this past weekend, according to Exhibitor Relations, missing most industry projections.Stock markets around the world are mixed. China's Shanghai Composite (-1.43%) lagged in Asia and Britain's FTSE (+0.43%) is ahead in Europe. The S&P 500 is set to open little changed near 2,460.
Earnings reporting is light . BlackRock reports ahead of the opening bell and Netflix releases its quarterly results after markets close.
US economic data trickles out . Empire Manufacturing is due out at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 2.31%.